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My mortgage servicer did not pay my home insurance last month. My policy was canceled. Is the bank now responsible for insuring me?

If you maintained an escrow account with the bank and made regular deposits for the payment of taxes and insurance, the Real Estate Settlement Procedures Act (RESPA) requires the bank to make timely payments of these items from the account.

If the bank does not pay the insurance premium when it is due and the policy is canceled, the bank must either contact the insurance company and have the policy reinstated or purchase a policy with another insurer on your behalf.

However, during this time you remain responsible for continuing to make regularly scheduled mortgage payments, including escrow payments.

Refer to 12 CFR 1024 "Real Estate Settlement Procedures Act (Regulation X)."

Last Reviewed: April 2021

Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on should not be construed as legal advice or a legal opinion of the OCC.

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