MANAGE YOUR ACCOUNT

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We offer several convenient payment options, including online, phone, mail, and automatic reoccurring payments (ACH). See below for details.

Automatic Payments

We offer a convenient and safe automatic payment program where the funds are automatically drafted from your account each month on the date that you select. Both checking and savings accounts are eligible for setup.

Online

Log in to your PRMI account to make a payment from your bank account. This is a fast and convenient method to schedule a payment at any time day or night. Credit cards and debit cards are not accepted. Click the link below to log in.

Account Login

Phone

Our knowledgeable and friendly representatives are available to assist you with scheduling a one-time payment over the phone. Please have your checking account number and routing number available. Payments will be withdrawn from your bank account. Credit cards and debit cards are not accepted.

Call (800) 748-4424 Monday through Friday from 7:00 A.M. to 5:30 P.M. Mountain Time.

Mail

Personal checks, cashier’s checks and money orders may be mailed to the address below. Payments should be made to Primary Residential Mortgage, Inc. To ensure quick and accurate processing of your payment, please include your PRMI account number and property address.

Payment Mailing Address

Primary Residential Mortgage, Inc.
PO Box 593
Salt Lake City, UT 84110-0593

Wire

Payoff and settlement proceeds are accepted by wire transfer using the wiring instructions below.

Wire Information

Bank Name: Zion’s Bank
Account Name: Primary Residential Mortgage, Inc.
ABA/Bank Routing Number: 124000054
Bank Account Number: 980814883

Most loan agreements require payments to be made on the first of the month and are considered late if they are not received by the due date. Refer to the terms of your loan agreement and monthly statement for additional details.

There are several convenient ways to obtain a payoff quote on your mortgage account. Please include your PRMI account number in the request and whether you want it sent by mail, email or fax.

Phone

Call (800) 748-4424 to speak with one of our experienced Customer Care representatives to request a payoff quote.

E-mail

Email your request to [email protected]

Fax

Fax your request to (888) 446-3757

Mail

Send your request to:

Primary Residential Mortgage, Inc.
Attn: Customer Service
P.O. Box 16750
Salt Lake City, UT 84116

Late fees are charged under the terms of your loan agreement and are not usually assessed until the expiration of a 15-day grace period. Details on the late charge amount for your account and when it will be assessed can be located by logging into your PRMI online account or by viewing your monthly statement.

Yes. You can send in extra funds with your regular monthly payment, or at any time as long as your account is not past due. For accurate processing, please indicate the specific amount you paid extra and how you would like it to be applied. For example, paying additional funds towards reducing your principal balance or towards your escrow shortage.

Most mortgages have a portion of the payment that will go to principal and interest (P&I). Some mortgages have funds that get collected into an escrow account for taxes and insurance (T&I). Some mortgages also have mortgage insurance included in the payment (PMI and MIP). You should refer to your closing documents for a breakdown of the payment for your specific loan and contact our Customer Service Department if you have any questions.

Statements are sent monthly to the mailing address we have on file for your account, or you can access statements online. You can change the mailing address where your statement is mailed, or opt in to paperless statements from your online portal.

A Notice of Error or Request for Information is a request for PRMI to research an error or dispute regarding the servicing of your mortgage, or to request information or documentation regarding your mortgage.

• The Notice or Request must be in writing
• Provide the borrower’s name
• Provide the account number
• Describe the specific error that you believe has occurred during the servicing of your mortgage loan or describe the specific information you are seeking
• Do NOT write your request or claim on your payment coupon

Send your inquiry in writing to the following designated address:
Primary Residential Mortgage, Inc.
Attn: Customer Service
PO Box 959
Hurricane, UT 84737 

PRMI offers several convenient ways to contact our insurance department.

By phone: (888) 350-4614
By fax: (248) 710-1685

Additionally, you may submit your insurance policy details online by clicking here.

If you are facing financial difficulties, whether they are short or long term, contact our Home Retention Team at (866) 609-6552 so we can assess your individual needs and discuss available options that will help you stay in your home and avoid foreclosure.

Repayment Plan

An agreement that allows a borrower to catch up on payments over time by paying the contractual payment and a portion of the past due amount over a specified period.

• Resolve the delinquency
• Catch up on the past due amount over a specified period of time

Forbearance Plan

An agreement that allows a borrower to make lower payments or no payments for a specified period of time.

• Provides time to improve your financial situation and get back on your feet through temporary suspension or reduction in payment
• Less negative impact on credit than foreclosure
• No late fees are assessed during this time

Payment Deferral

An agreement that brings the loan current by moving the past due payments to the end of the loan as a non-interest-bearing-balloon payment. The balloon amount is due at maturity or when the loan is paid off.

• Resolves the delinquency
• Provides a fresh start while resuming regular contractual payments

Loan Modification

An agreement that restructures portions of the original terms of the mortgage to bring the account current. Terms that may change as part of a modification include payment amount, loan term, interest rate and principal balance.

• May reduce your monthly mortgage payments to a more affordable amount
• Lower negative impact to your credit score than a foreclosure

Partial Claim

Note: This option is only available on loans insure by HUD, USDA and VA

A borrower may qualify for a loan in the amount that will bring the account current. The loan is considered a secondary lien that is due when the mortgage is paid off. The borrower is required to sign loan documents as a part of this program.

Deed in Lieu of Foreclosure (DIL) or Mortgage Release

An agreement where the borrower transfers their ownership interest of the property to the mortgage company, in exchange for a release from the lien and mortgage.

• Eliminates the mortgage debt
• Reduces the amount of foreclosure fees and costs owed by the borrower
• May be eligible for relocation assistance funds
• Start repairing credit sooner than going through a foreclosure
• Borrower has more flexibility and control with the move out process

Call (800) 236-0125 or email us at [email protected] to request a Loss Mitigation Application. Please be prepared to discuss in detail your situation including hardship, monthly income, expenses, and the items listed below with an agent who will assist you in finding the best available option. Office hours are Monday through Friday, 7:00 A.M. to 5:30 P.M. Mountain Time.

• Signed and dated hardship Letter for each borrower, explaining the decrease in income or increase in expenses that has caused you to fall behind.
• Documentation of the hardship. If the hardship is due to an increase in expenses, provide documentation of the expenses. If the hardship is due to a reduction in income, provide documentation of the decrease.
• Financial Worksheet completed and signed.
• One month of most recent paystubs.
• Last two years W2 forms and signed Tax Returns.
• Signed and dated Borrower Consent to the Use of Tax Return Information form.
• Last three bank statements for each of your bank accounts.
• If unemployed, copy of unemployment eligibility or explanation of benefits.
• If self-employed, provide 6-months of your most recent business and personal bank statements.
• Copy of your driver’s license.

Please note, additional information may be required depending on your circumstances.

In addition to contacting PRMI for assistance, you may also call the HUD Financial Counseling agency at 800-569-4287800-569-4287 or locate a HUD Financial Counseling agency near you at http://www.hud.gov/offices/hsg/sfh/hcc/hcs.cfm. HUD is prepared to accept calls from persons who experience deafness, hearing impediments or speech and communication disabilities. The Federal Communications Commission (FCC) has information on how to make an accessible phone call. You can visit the Federal Communications Commission website https://www.fcc.gov/consumers/guides/telecommunications-relay-service-trs.

Foreclosure is the legal process where a mortgage company obtains ownership of a property due to the homeowner’s failure to meet the requirements or terms of the mortgage contract (i.e., repossess the property). A foreclosure can occur when the homeowner fails to make payments, defaults, or otherwise violated the terms of the mortgage contract.

Foreclosure proceedings vary from state to state, but often include notification to the borrowers, public notification & eventually the auction or sale of the property. Potential impact to a borrower may include:

• Stress and uncertainty regarding the home
• Negative credit impact
• Increase in total amount owed due to foreclosure fees and costs which are the responsibility of the borrower
• Loss of potential relocation assistance
• Eviction proceedings

It is critical for the borrower to communicate with the mortgage company to determine the best available options. There are a variety of workout options prior to or during a foreclosure that may help the borrower retain their home or minimize the potential negative impacts of a foreclosure process.

An escrow account may be required under the terms of your mortgage. Whether an escrow account is required can depend on the mortgage type, amount of equity, and lender requirements at origination. Having your taxes and insurance payments managed by the mortgage company is a convenient and effective way for you to pay an equal amount each month into the escrow account to cover annual costs associated with property taxes and insurance instead of paying them in a lump sum all at once. Please contact us at (800) 748-4424 with any questions regarding your escrow account.

The mortgagee clause is the specific name of your mortgage company that your insurance company should have on file, so they know who to work with on invoicing and insurance claim funds.

Mortgagee Clause for PRMI:
Primary Residential Mortgage, Inc.
ISAOA/ATIMA
P.O. Box 391320
Solon, OH 44139

The escrow shortage may be paid by phone, online or by mailing a separate check to PO Box 593, Salt Lake City, UT 84110. Please reference your account number and “Escrow Shortage” on the memo line of the check. If you are unable to pay the full shortage amount, please contact our customer service department for options.

An escrow account is a special account used to hold the portion of your monthly payment used to pay property taxes and insurance. The funds in your escrow account are strictly designated to fund property taxes, hazard insurance, mortgage insurance or any other property-related assessments. Any excess funds in the account are refunded to you with a scheduled escrow analysis. Escrow funds are held in non-interest-bearing accounts, so PRMI receives no monetary benefit from these funds.

An escrow analysis is performed once per year to ensure your monthly mortgage payment will be sufficient to fund the projected escrow disbursements. The escrow amount that is collected as part of your monthly payment is based on the cost of your insurance and taxes. Insurance premiums can fluctuate from year to year based on rates, coverage, and insurance carrier. Property taxes can fluctuate as well depending on property value and county/municipality tax rates and fees. Changes to insurance premiums and property taxes can result in changes to your escrow and monthly payment.

Insurance premiums and tax assessments are established by the homeowner’s insurance company and taxing authority. Contact your local taxing authority regarding options to reduce property tax assessments or discounts that may be available to you. Similarly, you may shop for hazard insurance, or ask your current agent if there are better rates available.

PRMI policy is to send the escrow refund check directly to the borrower(s) on record. We do allow extra funds to be applied to the account through the payment methods listed under the Servicing FAQ section for how to make a payment.

After you’ve chosen your home and decided on your home financing, it’s time to close your loan. You may need to provide additional documentation at this stage of the process. Your Loan Officer will walk you through everything and make sure you know what to do. Once your loan is closed, you get to move into your new home!

Once you’re prequalified, it’s time to look for a home. A real estate agent can help you narrow your search. Your PRMI Loan Officer can help you explore your home financing options. Every situation is unique, which is why we offer hundreds of loan options. We’ll take the time to help you find the loan that’s right for you and your long-term goals. We even offer mortgages with low to no down payment.*

*Closing costs and fees may still apply.

To get prequalified, you’ll provide us with some basic information about your goals and financial situation. Getting prequalified gives you a ballpark estimate for the amount a lender thinks you can afford to borrow. This helps you set your budget so you can shop for homes efficiently.

Yes. We offer a wide selection of loan products, including options with low down payments and no down payment.*

*Closing costs and fees may still apply.

Very likely. Qualification depends on a number of factors, but we offer loans with lenient credit requirements. For example, you can qualify for an FHA loan with a credit score as low as 500.

Closing costs will vary depending on your situation, but they often include origination fees, appraisal fees, title insurance fees and more. You will receive an estimate of closing costs in advance so you know what to expect.