Phone: 
915-771-8006 | Office: 906 N Mesa St., Suite #101, El Paso, TX 79902 | Drop Box: 12365 Pine Springs, El Paso, TX 79928
We cater to the individual needs of
our clients in the financial industry
Phone: 915-771-8006
Toll Free: 1-800-357-0103
Fax: 915-771-8233
Business Hours: Monday to Friday, 8:30 AM – 5:30 PM
Mailing Address: PO Box 371805,El Paso, TX 79937
Physical Address: 6501 Boeing Suite H-4, El Paso, TX 79925
For your convenience, our office is open from 8:30 AM to 5:30 PM, Monday through Friday. If you wish to make a payment at our office, please be advised that any payments received after 3:00 PM are posted for the next business day.
You may change your address by filling out our Address Change Form and faxing, mailing, or bringing the form to our office. Please include your account number.
If you have fallen behind on making your payments, please contact our Accounts Manager at 915-771-8006 or toll free at 1-800-357-0103 to discuss options that may be available to you.
If you have recently received notice of foreclosure and are interested in discussing options that may be available to you, please contact our Accounts Manager at 915-771-8006 or toll free at 1-800-357-0103.
A detailed Loan History is now available online for a nominal monthly fee (site under construction). If you are one of our lenders visit LendersViewCentral.com, or if you are a borrower visit BorrowersViewCentral.com and log in with the account number and PIN that have been assigned to you by Mills Escrow Company. You can instantly access your information from your own computer 24 hours a day, 7 days a week.
A Loan History can also be generated by any Mills Escrow Company employee from our office and mailed to you. Standard fees apply.
If you believe any of the information reported on your Loan History is incorrect, please contact our office at 915-771-8006 or toll free at 1-800-357-0103.
Loan documents may be requested by contacting our office at 915-771-8006 or toll free at 1-800-357-0103. Standard fees apply.
You may order a Verification of Mortgage by faxing a request to our office at 915-771-8233. All requests require the borrower’s written authorization. The Verification of Mortgage will be sent via mail or fax within 3 to 5 days.
The interest you pay on your loan is expressed as a percentage of the money borrowed to be paid over a given period of time. It is always important to remember that interest is paid in arrears. It is a common misconception that when you make a payment you are paying for the current month. In fact you are actually paying for the previous month’s interest. There are two different ways in which interest can be calculated: daily and periodically.
Daily interest is calculated according to the actual number of days between payments. If the calculated interest is greater than the Principal and Interest amount amortized for the payment, the excess interest becomes accrued which results in interest that is unpaid but still owing.
Your daily interest payment amount can be calculated by multiplying the unpaid principal balance by the current interest rate, dividing by 365 days a year (or 366 if it is a leap year), and multiplying by the number of days elapsed from the last payment received date to the current payment received date. Or, more simply put, principal balance x interest rate / 365 x number of days between payments.
An escrow account is held by the lender for future payment of property taxes and insurance premiums and is typically established at the time you close your loan. Lenders usually require you to pay an initial amount for both taxes and insurance to properly fund the escrow account at the time of closing. Not all loans have escrow accounts established.
Your payment amount may have increased due to property tax and/or insurance premium increases. Each year you will be provided with an Annual Escrow Account Disclosure Statement which shows projected escrow activity and can be used to compare your bills from one year to the next. An increase in one or more of your bills will result in an escrow shortage and consequently increase your monthly escrow payment to make up that shortage by the time the bills are owed.
Your Escrow Account Disclosure Statement shows that projected escrow activity, current and new payment amounts, and the portion of the payment deposited into your escrow account. It also explains how an escrow surplus or shortage will be handled.
Your projected escrow activity shows all the escrow deposits we expect to receive from you in a 12-month period, as well as all escrow-related disbursements we expect to pay from your escrow account during the same period. This activity also shows your anticipated and required monthly escrow balances.
If you wish to establish an escrow account for the payment of property taxes and/or insurance, please contact our office at 915-771-8006 or toll free at 1-800-357-0103. Standard fees apply.
Customers required to provide evidence of insurance coverage may do so by supplying the binder from their insurance company showing policy number, effective and expiration dates, premium amount, deductible and coverage amounts, and the name and address of your insurance company. Updated insurance information can be submitted via mail, fax, or directly to our office.
You are required to maintain homeowners insurance according to your Mortgage or Deed of Trust. If you fail to follow the terms set in your Note or Deed of Trust, you are in default and subject to foreclosure.
There are three ways of insuring your home:
The mortgagee clause of your insurance policy must be addressed to your lender in care of Mills Escrow Company.
Changing your insurance carrier involves several steps. First, ensure that your policy meets the insurance requirements as specified in your Note or Deed of Trust. Second, contact your current insurance carrier to cancel coverage. Failure to do so may result in you not receiving a refund if one is due. Third, send a copy of your new policy and a letter of authorization for the new insurance carrier to our Insurance Department as soon as possible. You may be required to pay the annual premium if payment has already been made to your current insurance carrier.
If your policy is being cancelled, please contact our Insurance Department so that we may assist you. Failure to replace a canceled policy will result in the application of force placed insurance coverage.
Force placed insurance is coverage that has been obtained by the lender when the customer’s insurance has lapsed or has been cancelled or proof of the customer’s insurance has not been received. Force placed insurance is necessary to protect the lender’s interest in the property if damage was to occur and the customer had not maintained adequate coverage. It is typically more expensive than insurance coverage the customer purchases because it must cover all properties, in all locations, and in all conditions. Force placed insurance does not provide coverage for contents or liability.
Force placed insurance coverage is provided when the customer’s insurance has lapsed or has been cancelled or if proof of the customer’s insurance has not been received. This coverage can be cancelled once Mills Escrow Company receives and verifies proof of customer provided insurance. If there was a lapse in coverage, you will be responsible for paying the force placed insurance coverage for the period in which the force placed insurance was in effect.
You may access your Loan History, including escrow account activity, via this website for a nominal monthly fee. Visit www.BorrowersViewCentral.com and log in with the account number and PIN which has been assigned to you by Mills Escrow Company. You can instantly access your information from your own computer 24 hours a day, 7 days a week.
You may also contact our Insurance Department at 915-771-8006 or 1-800-357-0103 for information regarding your escrow account activity.
If Mills Escrow Company has received your renewal, your policy effective and expiration dates will be updated as indicated on your current policy. This information is available by contacting our Insurance Department at 915-771-8006 or 1-800-357-0103. It is imperative to maintain a current insurance policy to avoid costly force placed insurance coverage.
Please notify your insurance agent directly, followed by Mills Escrow Company if there is damage to your property. Your insurance company may then issue a loss/claim check. Typically, checks are issued in the names of both the property owner and Mills Escrow Company; therefore Mills Escrow Company must endorse the check before it may be cashed. Claim checks may be sent to our Insurance Department via regular mail or taken directly to our office.
The terms of your Deed of Trust state that insurance payments are security for your loan and paid to both you and your lender through Mills Escrow Company. We will endorse your claim check only if your account is current and your check is for an amount less than $7,500. The repairs for claim checks over $7,500 will be monitored and the proceeds issued in increments.
Typically, checks are issued in the names of both the property owner and Mills Escrow Company. Because your lender, in care of Mills Escrow Company, has an interest in ensuring the damaged property is repaired, we must endorse the check before it may be cashed.
The terms of your Deed of Trust state that insurance payments are security for your loan and paid to both you and Mills Escrow Company. We will endorse your claim check only if your account is current and your check is for an amount less than $7,500. The repairs for claim checks over $7,500 will be monitored and the proceeds issued in increments.
If you have an escrow account, Mills Escrow Company will obtain your property tax amounts and pay your taxes as they become due, based on the available funds in your escrow account. You may view your property tax disbursement amounts on your Annual Escrow Account Disclosure Statement, by reviewing your escrow account activity, or by contacting our Tax Department for more information.
Tax collectors do not typically release the current year's taxes until late October or early November. Mills Escrow Company uses the prior year's tax levy to approximate what you will be paying for the current year. If the value of your property increases or tax rates go up, it is possible that your escrow account will lack the necessary funds to pay your property taxes in full. Mills Escrow Company will notify you of this shortage with sufficient time to make up the difference.
If you do not have an escrow account, you are responsible for paying your own tax bill(s) directly to your taxing authority. According to your Deed of Trust, you must keep all taxes paid in full and provide Mills Escrow Company with evidence each time a tax is paid. If you fail to keep all taxes paid in full, you will be in default and subject to foreclosure.
If you are interested in opening an escrow account with Mills Escrow Company, contact our office at 915-771-8006 or 1-800-357-0103.
Please contact your local tax collector, tax assessor, or appraisal district for information regarding tax amounts, assessed values, and tax rates, and also to obtain copies of your tax receipts.
Please contact your local appraisal district directly to find out if you qualify and how to apply for an exemption.
If you do not have an escrow account, you are responsible for paying your own tax bill(s) directly to your taxing authority. According to your Deed of Trust, you must keep all taxes paid in full and provide Mills Escrow Company with evidence each time a tax is paid. If you fail to keep all taxes paid in full, you will be in default and subject to foreclosure. Your lender may also require you to establish an escrow account so we may oversee your property tax payments.
If you have difficulty making tax payments, you may also contact your taxing authority to inquire about a payment plan. If you choose to enter into a payment plan with your taxing authority, you must provide evidence to Mills Escrow Company.
Occasionally, Mills Escrow Company receives a delinquent tax notice on a loan not escrowed for taxes. We may be required to pay these taxes in order to prevent a loss to the lender. If you have already paid your delinquent taxes, provide proof to Mills Escrow Company so that we may research a possible overpayment.
When you receive your annual property assessment, please keep notice for your records and provide a copy to Mills Escrow Company. If you wish to protest the assessed value of your property as indicated on the notice, contact your local appraisal district office for more information.
If you receive any of the above notices, please send the notice to our Tax Department immediately.
Before you sign any contract or agreement with a third party finance company, please contact our Tax Department as soon as possible. Borrowing to pay property taxes can be very risky and often results in you giving up your property if you are unable to repay these small tax loans.
Bankruptcy is a legal proceeding in which an individual or business may seek relief from debt. Whenever customers file bankruptcy, a separate bankruptcy account is established and monitored accordingly.
In most instances, the law prohibits a creditor, such as Mills Escrow Company, from contacting customers while they are involved in bankruptcy proceedings. However, the law does not prohibit us from providing assistance to customers throughout the bankruptcy process. If you are a customer involved in an active bankruptcy case and need assistance, please contact our office at 915-771-8006 or 1-800-357-0103.
Mills Escrow Company asks that all payments be made by personal check, cashier's check, or money order only. No cash payments will be accepted. If you would like us to withdraw your payment directly from your bank account each month, please fill out our ACH form and return it to us.
However, if you have had an ACH payment or personal check returned to you due to insufficient funds, we will require all subsequent payments to be made in certified funds.
Please include your Mills Escrow Company account number on your check or money order, or include a payment coupon, and send the payment to:
Regular Mail:
Mills Escrow Company
P.O. Box 371805
El Paso, TX 79937
Overnight Mail:
Mills Escrow Company
6501 Boeing, Suite H-4
El Paso, TX 79925
If you do not have a payment coupon, simply include your name, property address, and Mills Escrow Company account number on the check or money order and sent the payment to:
Regular Mail:
Mills Escrow Company
P.O. Box 371805
El Paso, TX 79937
Overnight Mail:
Mills Escrow Company
6501 Boeing, Suite H-4
El Paso, TX 79925
Your payment amount may have increased due to property tax and/or insurance premium increases. Each year you will be provided with an Annual Escrow Account Disclosure Statement which shows projected escrow activity and can be used to compare your bills from one year to the next. An increase in one or more of your bills will result in an escrow shortage and consequently increase your monthly escrow payment to make up that shortage by the time the bills are owed.
If your payment amount did not increase because of an escrow shortage, it may have increased due to an adjustable interest rate change. If your interest rate changes periodically, a notice will be mailed to you to provide you with the new interest rate, new principal and interest payment amount, and effective date.
A welcome letter along with payment coupons is mailed to our new customers within 10 days after the servicing of the loan has transferred to Mills Escrow Company. If you need to send your payment before you receive the welcome letter, simply include your name and property address, along with the previous servicer's name and account number, and send it to:
Regular Mail:
Mills Escrow Company
P.O. Box 371805
El Paso, TX 79937
Overnight Mail:
Mills Escrow Company
6501 Boeing, Suite H-4
El Paso, TX 79925
Formal requests for payoff figures must be received in writing and include signed authorization from the borrower. You may submit a request by faxing or mailing it to our office. Please include your loan account number and the exact date on which you wish to payoff your loan. Typical turnaround time for a payoff request is 3-5 business days. The payoff statement may be sent to you via mail, fax, or you may also request delivery to a third party.
Our standard fee for the request of a payoff is $30. Please be aware that every time you or a third party asks for this service, a fee will be charged. You may either pay the fee at the time the payoff is requested or add the fee to the payoff total. Borrowers are responsible for paying this fee even if the loan does not end up being paid off at that time.
If you are eligible for an escrow refund at the time of payoff, your escrow refund check will be mailed to you within 30 days after the loan has been paid in full. Please ensure you have provided us with a forwarding address if you have moved.
Typically, any funds which are in your escrow account at the time of payoff are credited to your account and used to lower the overall payment. If this is the case, there will be no escrow refund after your account is paid in full.
In most cases, your Release of Lien will be provided within 30 days. Usually this document is sent to your county records office to be recorded for you. If your loan has been paid in full for more than 30 days and you wish to check the status of your Release, please contact our office at 915-771-8006 or 1-800-357-0103.
Prepayment penalties are interest funds paid to the lender if a loan is retired before the term agreed upon in the loan documents. Prepayment penalty terms vary and may be defined in your Note. Generally, prepayment penalty clauses apply during the first 3 to 5 years only and there is no prepayment penalty thereafter.
Most commonly, a prepayment penalty is charged to ensure a specified return on the loan since there is no chance for the lender to be repaid for the costs of originating and purchasing a loan if a loan is retired before the term agreed upon in the loan documents. In other cases, a borrower may elect for a prepayment penalty at closing in return for more attractive terms of repayment. A prepayment penalty may also apply with a loan issued to someone whose credit is under repair and represents a higher risk of default.
Prepayment penalties must be collected under the terms agreed upon in the loan documents executed at closing and therefore cannot be waived. However, prepayment penalty clauses typically only apply during the first 3 to 5 years only and there is no prepayment penalty thereafter.
We are unable to assist you with refinancing as we are a loan servicer and do not originate loans. You may contact a lending institution in your area for refinancing options.
An ARM is a loan where the interest rate is adjusted periodically usually based on an index to keep your interest rate near current market rates. The amounts and times of adjustments are agreed upon in the loan documents executed at closing. Rates are tied to an index specified in the original loan documents. The principal and interest payment amount is adjusted according to the rate adjustment or preset amounts in your loan documents.
The rate index is a published interest rate, such as a government Treasury Bill, used by lenders to adjust your interest rate either up or down at the agreed upon intervals.
Rate indexes are published by a variety of institutions, such as The Wall Street Journal, the Federal Reserve, and Fannie Mae.
Typically, your new interest rate will be calculated by adding the current index value to the margin specified in the loan documents executed at your closing.
Each time your rate changes, your loan is amortized using the new interest rate, unpaid principal balance, and remaining loan term to arrive at the new principal and interest payment amounts required to satisfy the loan.
These rates specify the minimum (floor) and maximum (ceiling) amounts to which your interest rate may adjust over the life of the loan as specified in your loan documents.
These rates specify the minimum and maximum amounts to which your interest rate may adjust per adjustment cycle.
Mills Escrow Company will provide notice of your new interest rate, new principal and interest amount, and effective date.
A GTM is a loan in which the interest rate increases at specific intervals over a specific period of time as outlined in the loan documents executed at your closing. Consequently, principal and interest payment amounts are increased accordingly.
An interest only mortgage loan is a loan in which the scheduled monthly payment amount consists of interest only and does not include any repayment of principal and thus the loan balance will remain unchanged. The interest only payments last for a specified period of time, usually 5 to 10 years. With an interest only loan, customers may pay more than just interest if they choose.
Your interest only payment is calculated by multiplying the unpaid principal balance by the interest rate and dividing by 365 days a year (or 366 days a year in a leap year).
The SCRA, formerly known as the Soldiers and Sailors Civil Relief Act, was established in 1940 to provide relief measures to persons in active military status. According to Section 526 of the Act, all debt incurred by a servicemember prior to deployment will be charged a maximum interest rate of 6% during the period of deployment.
If your debt was incurred prior to you being deployed, please send or fax your military orders to our office.
If your deployment status has changed, please supply our office with written notice of the changes.
Mills Escrow Company will send notice of your new interest rate, principal and interest payment amount, and effective date via mail.
Office
906 N Mesa St., Suite #101
El Paso, TX 79902
Drop Box
12365 Pine Springs
El Paso, TX 79928
NMLS License # 828016
Monday to Friday: 8:30 AM – 5:00 PM
Saturday to Sunday: Closed
Southern United States - Texas and New Mexico
