Guardian Savings Bank FAQ

Please contact our customer service team at 513-842-0972.

For questions about taxes, insurance or PMI, please contact our escrow team at 513-842-0971.

Guardian offers several options for making payments on your mortgage loan. You may choose any option that is convenient for you!

• To enroll in automatic payments, please contact us at 513-842-0972 or via e-mail at [email protected] to obtain the necessary forms. Additionally, you may click here to download the “Authorization for Automatic Payments” form and e-mail it to us for processing.
• Click here to use our bill pay option or, if a current Guardian customer, through your online banking portal.
• Make a payment at one of our branch locations. Click here to find the nearest Guardian Savings Bank branch.
• You may also opt to mail a check or money order to:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Loan Servicing

Absolutely!

Click here to login to your online banking account and make your mortgage payment.

Additionally, to enroll in automatic payments, please contact us at 513-842-0972 or via e-mail at [email protected] to obtain the necessary forms. Also, you may click here to download the “Authorization for Automatic Payments” form to e-mail us.

Yes. If you setup automatic payments through your bank or through our bill payer system on GuardianSavingsBank.com, you will need to cancel them personally. However, if you requested Guardian to draft from your bank, you may cancel by calling us at (513) 842-0972, e-mailing us at [email protected] or by clicking here to download the “Cancellation of Automatic Payments” form, filling it out and returning to our e-mail address. We are unable to cancel any auto payment requests within 5 business days of drafting as the process has already begun. We will cancel for the following payment.

Payoff information can be obtained by contacting us at 513-842-0972 or via e-mail at [email protected] to request an official payoff statement for your account. Official statements are assessed a $20 processing fee per request. You may also visit one of our local branches to begin this process if more convenient. While your loan balance is available to you online at GuardianSavingsBank.com, there are additional fees and interest calculated for your payoff. We highly recommend reaching out to us for correct quotes to avoid potential additional funds if calculated personally.

Payoffs should not be made through online bill payment or automatic payments unless specifically directed by our servicing representatives. Please mail all payoffs to:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Loan Servicing – Payoff

You may do so by clicking here to download the “Authorization to Close HELOC” form, completing that form and returning it to us at your nearest Guardian Savings Bank location or e-mailing to us at [email protected].

Click here to find the nearest Guardian Savings Bank branch.

Please note that all applicable fees must be paid before account closure, including annual or prepayment fees. If you are closing your account prior to its third anniversary of opening, a prepayment fee will apply and cannot be waived. A loan servicing representative will contact you if outstanding fees remain on the account.

This is a fee to record a satisfaction of mortgage, or a document that states you have paid your loan in full with Guardian Savings Bank. While this fee is charged on all payoff quotes assessed, it is not a fee that Guardian collects and retains. Rather, Guardian collects this fee to pay your county clerk or recorder’s office to record the document(s) necessary to satisfy your loan. A copy of this document can be obtained from your local county jurisdiction approximately 90 days after loan payoff.

Once your loan has been paid in full and closed, our system will update overnight and generate a “paid in full” letter that will be sent to your address of record within 5-7 business days.

Please ensure prior to payoff we have the most current mailing address on your account.

If we do not, please click here to download our “Change of Address” form, complete that form and return it to us at [email protected] for processing.

Additionally, Guardian will then file the necessary documentation with your local county recorder or clerk’s office to remove our lien(s) from your property. Timeframes vary and will generally be completed within 90 days of loan payoff. Copies of this documentation are available from your local county recording office.

Yes. If your loan is paid in full and your account or escrow indicates a balance, we will send you a refund check by mail within 30 days after the payoff date. Please allow appropriate time for mailing before inquiring about your overage.

The due date for your mortgage payment will always be the first of every month with a 15-day grace period. While this date cannot be altered, you are able to change the date your payment is drafted if your payment is setup on automatic payments. Please contact us at 513-842-0972 or via e-mail at [email protected] to request any draft date changes.

You may also click here to download our “Authorization for Automatic Payments” form and e-mail a completed and signed form to [email protected] for processing.

Yes! Regular loan payments are applied to your account in this order: interest due first, then principal, then escrow (if applicable), then fees. If you want to make an extra payment to your loan principal or have additional funds applied to your principal, you will need to specify that with your payment. You are also able to pay your regular contractual payment ahead by one month (i.e. paying both July and August payment for a due date of September 1). Any additional payments beyond one month will be applied to your loan’s principal balance until no longer pre-paid for one month.

All payments to your account are effective on the business date we receive them. Payments received after business hours, federal holidays or weekends are effective the next business day.

Guardian does not accept partial payments on your account. If you are experiencing a hardship on your account preventing you from making your monthly payments, please contact us at (513) 741-6250 x 353 for assistance.

Principal reductions are processed by our servicing team. You may mail a check to them at:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Loan Servicing – Principal Reduction

Please include with your check distinct instructions to apply only to the principal balance of your loan. Alternatively, you may take your check to your nearest Guardian Savings Bank location to have processed.

Click here to find the nearest Guardian Savings Bank branch.

If you would like to make a principal payment to your account in excess of $10,000 and recast your loan to reduce overall principal and interest payments, please contact us at (513) 842-0972 or via e-mail at [email protected]. Alternatively, you may click here to download our “Recast Request Form”, complete it and e-mail it to us at the address above to start the process.

If you are experiencing a hardship on your account preventing you from making your monthly payments, please contact us at (513) 741-6250 x 353 for assistance.

We generally suggest having an escrow account on your mortgage because it combines all mortgage related expenses into one trackable payment each month. However, some homeowners will be required to maintain an escrow account for a number of reasons. Some common reasons include:

• The amount of equity in your property.
• Your property is in a High-Risk flood area and the loan was originated after 1/1/16.
• Your loan had a hardship modification.
• You have an FHA or Rural Housing Loan.

Please click here to scroll down to our Mortgage Escrow FAQ to answer any further questions you may have about escrow.

Please send us any copies of insurance to [email protected]. Prior to sending us copies, please ensure that Guardian is listed as mortgagee of your policy to avoid follow-up requests. Guardian should be listed as follows:

GUARDIAN SAVINGS BANK, ISAOA
2774 BLUE ROCK RD
CINCINNATI, OH 45239

Any tax bills received can be sent to [email protected]. We will ensure payment of your bill upon receipt. Guardian will not be responsible for any late fees or penalties associated with your tax bill should we not be able to obtain it in a timely manner. Such fees may be added to your account.

Under limited circumstances, Guardian may allow the transfer of your property to a trust or an LLC. Please contact us at (513) 842-0972 or [email protected] to discuss your eligibility and applicable documentation and fees if appropriate.

Guardian may allow the partial release of your mortgage obligation if certain criteria are met. A current mortgage appraisal detailing before and after land values will be necessary to determine appropriate loan to value and if any pay down of your principal balance will be necessary. You may contact us to begin the process at [email protected] or give us a call at (513) 842-0972 to discuss.

Please click here to download our “Request for Authorized User on a Loan Account” form and follow the instructions for us to add an authorized user to your account. Please note authorized users will remain on the account unless specifically revoked in writing.

Name changes can be processed at any one of our local branches.

Click here to find the nearest Guardian Savings Bank branch.

Additionally, you may click here to download our “Request for Name Change on Loan Account” form to make the necessary changes due to marriage, divorce, or other legal processes. Please include all required documentation.

Please note name change requests do not change the current name(s) on existing mortgage documents, only in Guardian Savings Bank systems. A refinance of your current loan would be the only way to update your existing mortgage documentation.

Change of address can be processed at any one of our local branches.

Click here to find the nearest Guardian Savings Bank branch.

Additionally, you may click here to download this “Notice of Change of Address” form, complete that form and email it to [email protected] to make specific address changes to your mortgage account.

Coupon books are mailed to our customers generally within 30 days of your current book expiring or within two weeks after loan closing. We ask you to allow appropriate mailing time to receive. If you feel you have not received your coupon book in a timely manner, please contact us at (513) 842-0972 or [email protected] so we may review.

Checks are generally mailed to customers within the first 30 days of loan closing. We ask that you allow appropriate mailing time to receive. If you feel you have not received your home equity checks in a timely manner, please visit your Guardian Savings Bank branch location to inquire.

Click here to find the nearest Guardian Savings Bank branch.

Click here for information on our current rates and how to contact us. One of our loan officers would be happy to speak with you about our various options!

We at Guardian are sorry for your loss and are here to help. Before contacting us, we recommend gathering the necessary paperwork, such as death certificate(s), trust documentation if appropriate and/or probate paperwork naming an executor of estate. This documentation will be necessary to make appropriate changes to accounts and discuss options with next of kin.

Once this documentation is ready, please give us a call at (513) 842-0972 to discuss how we can assist you through this difficult time. Additionally, you may click here to download further information on successorship.

It is important to keep the mortgage account payments current. If you or next of kin are unable to do so, please contact us immediately at (513) 741-6250 x 353 to discuss.

Verification of mortgage requests can be made by contacting us at (513) 842-0972 or via e-mail at [email protected].

An escrow account holds funds for the payment of your taxes and/or insurance. As each mortgage payment is made, a portion of your payment is deposited into the escrow account. Guardian will use funds from this account to pay your tax and/or insurance bills as they are due.

Your monthly escrow payment is calculated by adding up all applicable bills we expect to pay on your behalf for the next year and dividing it by 12. We maintain a minimum required balance (also called a cushion) in your escrow account for unexpected increases in your taxes and/or insurance. If your account has a shortage as determined on your annual mortgage escrow statement, this may increase the monthly payment. Please refer to your most recent annual mortgage escrow statement for further explanation.

View a fictitious example below:

Our escrow department is here to help you with any escrow related questions. We are available Monday through Friday 8am – 5pm EST. You may call us at (513) 842-0971 or e-mail us directly at [email protected].

We generally suggest having an escrow account on your mortgage because it combines all mortgage related expenses into one trackable payment each month. However, some homeowners will be required to maintain an escrow account for a number of reasons. Some common reasons include:

• The amount of equity in your property.
• Your property is in a High-Risk flood area and the loan was originated after 1/1/16.
• Your loan had a hardship modification.
• You have an FHA or Rural Housing Loan.

Some escrow accounts may be eligible for cancellation. Some initial requirements to cancel escrow include:

• No delinquency within the last 24 months
• Your loan to value ratio is 80% or less. Loan to value is the amount of your current principal balance as compared to the original value of your home.

 
It is important to note that these are not all potential requirements. If you would like your escrow reviewed for eligibility, please contact our escrow department at (513) 842-0971 or via e-mail at [email protected]. Please include with your request a document with your full name, account number, the specifics of your request and your signature for review.

We maintain a minimum required balance (also known as a cushion) in your escrow account for unexpected increases in your taxes and/or insurance.

If you have a primary mortgage with Guardian, absolutely! Home equity products are not eligible for escrowed accounts. There are a few ways an escrow account can be opened:

• At loan origination and closing.
• Email or fax a written request, along with your most recent tax and/or insurance bills you would like to add to your escrow account to [email protected] or fax to (513) 923-3070 Attn: Escrow Department.
• Give us a call at (513) 842-0971 Monday through Friday 8am-5pm EST.
• Visit one of our local branches.

 
Click here to find the nearest Guardian Savings Bank branch.

Generally once a year, we perform a review of your escrow account in order to determine if the escrow portion of your monthly mortgage payment is able to cover the annual requirements for your real estate taxes, and/or insurance premiums. We are required under the Real Estate Settlement Procedures Act (RESPA) to disclose to you in an annual mortgage escrow statement, also known as an escrow analysis, the results of this review and its effect on your monthly mortgage payment. Occasionally, we may provide you with an interim statement to maintain compliance with RESPA.

Please click here to download a guide on understanding your escrow statement.

After closing your loan, Guardian will generally prepare a statement after the most recent taxes have been paid on your account. Once your account is established, we will generally run your analysis and prepare your statement at the same time each year. Your statement will be mailed to you, and we suggest looking for this document to understand any important changes to your payment annually if applicable.

The most common answer is because of an adjustment in your taxes or insurance bills from the prior year. While Guardian works to estimate your annual taxes and insurance to the best of our abilities, it is ultimately your city, county or insurance company who determines tax and insurance payment amounts. When Guardian then completes your annual analysis, if these amounts increased, we unfortunately must adjust your escrow payment amount to ensure enough funds to appropriately pay on your behalf.

Yes, this is possible. Your payment may still go up if your taxes or insurance increase, even if you decide to pay the entire shortage or receive a surplus. The monthly payment is determined by dividing the projected disbursements for the upcoming year by 12 while the shortage/surplus is based on the subtracting the projected minimum balance from the required minimum balance. On your annual escrow statement, you’ll see a month-by-month projection of your upcoming escrow contributions. You’ll also see the upcoming disbursements we expect to make on your behalf.

You can absolutely choose to pay your shortage in full. You are able to find this shortage amount on the annual escrow statement we send to you. There are a few options to make this payment:

• Mail a check for the full amount to Guardian at:

GUARDIAN SAVINGS BANK
2774 BLUE ROCK RD
CINCINNATI, OH 45239
Attn: Escrow Dept – Escrow Only Payment

Please include with your check a statement you would like funds deposited directly to escrow only.

• Visit one of our local branches and ask to make a direct payment to your escrow account.

Click here to find the nearest Guardian Savings Bank branch.

Please note that payments directly to escrow cannot be made via our online bill payment options.

A surplus is generally caused when the monthly tax and insurance payments were lower than projected. If your surplus equals $50 or more and your loan is current, we will send you a refund check. If your loan was past due at the time of analysis, your refund will be held in escrow until your loan is brought current. If you are actively participating in loss mitigation assistance, the terms of your workout option may affect your refund. If your surplus is less than $50, we will automatically apply it to reduce your monthly escrow payment over the next 12 months.

Funds in escrow are used to pay bills such as:

• Property taxes (both city and county)
• Homeowner’s Insurance
• Mortgage Insurance
• Flood Insurance

Your escrow payment is included within your monthly mortgage payment. To ensure prompt payment, simply follow the information provided within your coupon book or monthly statement.

Of course! Understand however, making payments directly to your escrow account does not negate or take the place of making your regular monthly mortgage payments. To make additional payments to escrow:

• Mail a check to Guardian at:

GUARDIAN SAVINGS BANK
2774 BLUE ROCK RD
CINCINNATI, OH 45239
Attn: Escrow Dept – Escrow Only Payment

Please include with your check a statement you would like funds deposited directly to escrow only.

• Visit one of our local branches and ask to make a direct payment to your escrow account.

Click here to find the nearest Guardian Savings Bank branch.

Possibly. If the initial setup of your auto bill pay was to pay the current amount due, then it will be updated. However, if you setup auto bill pay with your financial institution to make a static payment amount and the new amount exceeds the static payment, auto bill pay will reject and payment will not be made. At that point you will need to request an update to your auto bill pay or login yourself to make the necessary adjustments.

There may be options, such as spreading your shortage over a time period longer than the standard 12 months. Please keep in mind however that this may cause larger shortages in the future. To assess this option, please reach out to our escrow department at (513) 842-0971 or [email protected].

If you are experiencing an overall hardship in making your payments and need to speak to someone, please reach out to us at (513) 741-6250 x 353.

Mortgage insurance provides financial flexibility and can allow borrowers without a substantial down payment to purchase a home. It protects your lender in case you default on your mortgage loan. There are two common types of mortgage insurance:

• Private Mortgage Insurance (PMI): PMI is the most common form of mortgage insurance, especially on Freddie Mac and Fannie Mae Loans.
• Mortgage Insurance Premium (MIP): Mortgage Insurance Premiums are common on FHA loans.

To determine if you can cancel your PMI, review the requirements to cancel your mortgage insurance outlined on your Mortgage Insurance Disclosure received with your loan closing documents, if available.

If your loan is secured by a single family, owner occupied residence you can typically request PMI cancellation if:

• Your “original value” LTV (loan-to value) ratio is 80% or less—a calculation made by dividing your loan’s unpaid principal balance by your original purchase price or your original appraised value, whichever is less.
• You have a good payment history and have made at minimum 24 monthly payments. (No payments past 60 days late in 24 months and no payments past 30 days late in 12 months.)
• PMI removal can be requested based on “current value” LTV, but there are specific requirements including age of loan, investor, etc.

For automatic termination on a fixed rate mortgage loan, if the residence is a single-family primary home or second home, your mortgage insurance will be cancelled automatically in one of the following scenarios, whichever happens first, provided that your loan is current:

• The LTV on your property reaches 78%, based on the original amortization schedule (and you didn’t make extra payments to get it there).
• You reach the midpoint of your mortgage term (year 15 on a 30-year mortgage, for example).

Note: If you have a multi-unit primary residence or investment property, these rules differ slightly. With Fannie Mae, mortgage insurance goes away on its own halfway through the loan term. By contrast, Freddie Mac does not auto-cancel mortgage insurance.

These guidelines will not apply to every loan. To determine if you are eligible to cancel your mortgage insurance, submit a written request with your full name and full account number via fax to (513) 923-3070 or by emailing [email protected]. You can also mail the request to:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Escrow Dept – PMI Cancel

For FHA loans with MIP, please refer to the documents that were provided at your loan closing.

In certain instances, yes. If you have an escrow account for the payment of your taxes, live in the state of Kentucky, and receive a tax bill from your local city or county jurisdiction, you need to send to Guardian for payment. Additionally, in certain scenarios additional tax bill information should be sent to us, such as:

• You receive an off-cycle tax bill (i.e. supplemental taxes or delinquent tax bill)
• You have received an exemption from your taxing agency
• You disputed your tax bill with your taxing agency

If you do not maintain an escrow account with Guardian, you will remain responsible for the timely payment of all tax bills received.

Tax bill information can be sent to Guardian via fax at (513) 923-3070, e-mail at [email protected] or via mail at:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Escrow Taxes

Any bills that are received within 5 business days of the tax due date cannot be guaranteed timely payment. Any late fees associated with delinquent tax bills will be assessed to your account.

Please contact our escrow department at (513) 842-0971 to have your account reviewed with an escrow representative.

Your loan documents require that you maintain the appropriate insurance coverage throughout the life of your loan. The type of coverage required may depend on the location of the property.  For example, properties in flood zones must have flood insurance.

If your required insurance coverage lapses or you do not have enough coverage, Guardian may purchase insurance on your behalf.  Your monthly mortgage payment will be adjusted to reflect the additional charge to your escrow account. Additionally, your account may be considered in default for failure to maintain insurance as required by the terms of your note and mortgage with Guardian and subject to increases to your interest rate and/or other default actions as defined by the terms of your agreement. Our purchase of insurance on your behalf does not negate this default.

Lender placed mortgage insurance premiums are generally more costly than purchasing your own insurance. They also only cover the outstanding balance on your loan and not your belongings or total property. It is important to keep us up to date on your mortgage insurance. Changes to insurance carriers, annual declaration pages, and any other insurance related questions can be sent to [email protected] or by calling (513) 842-0971.

A mortgagee clause states for insurance purposes who the mortgage holder of your property is. For Guardian Savings Bank, it should be listed as follows on all policies:

GUARDIAN SAVINGS BANK, ISAOA
2774 BLUE ROCK RD
CINCINNATI, OH 45239

Copies of policy information can be sent via fax to (513) 923-3070, e-mail at [email protected] or mail to:

Guardian Savings Bank
2774 Blue Rock Rd
Cincinnati, OH 45239
Attn: Escrow Insurance

Please ensure all policies contain the appropriate mortgagee clause to avoid rejection by Guardian. Policies should list Guardian as:

GUARDIAN SAVINGS BANK, ISAOA
2774 BLUE ROCK RD
CINCINNATI, OH 45239

We at Guardian are here to help! If you have yet to file a claim with your insurance carrier, please do so immediately before contacting us. If you have filed a claim or have received a check from your insurance carrier due to a loss and need to understand next steps, please call us at (513) 741-6250 x 353 for assistance.

Disregard. These are home warranty solicitations attempting to coerce you into purchasing a home warranty for your property. Guardian will never contact you regarding a home warranty nor do we work with any providers of home warranties. Correspondence regarding your home will always come from a trusted Guardian phone number or in an envelope clearly labeled with the Guardian logo and return address.