That “PMI ADJ RFD” label gets people every time. You’d think after all these years, statements would be written in plain English. I always tell clients to call before assuming it’s bad news, but honestly, even I have to double-check some of these codes.
- Statements should flag refunds or adjustments more clearly—less stress for everyone.
- Sometimes lenders send separate letters about refunds, sometimes not... have you noticed any consistency with that?
- Do your clients ever get nervous about escrow adjustments too, or is it mostly the PMI stuff?
TITLE: When your mortgage statement looks like a cryptic crossword
I’ve lost count of the number of times clients have called me in a panic over “PMI ADJ RFD”—it really does look ominous if you don’t know what it means. Honestly, I wish statements had a little translation key somewhere. As for those refund letters, I wouldn’t hold my breath waiting for consistency. Some lenders send them, some don’t, and sometimes they show up weeks after the adjustment hits the statement. Escrow adjustments definitely spook people too, especially when taxes jump unexpectedly. But PMI codes seem to trigger more anxiety—probably because nobody expects to get money back from a bank!
Honestly, I wish statements had a little translation key somewhere.
Couldn’t agree more—half the time I’m staring at those codes thinking, “Is this a fee or a refund or both?” The lack of consistency is wild. I once got a PMI refund check in the mail two months after it showed up as a credit on my statement... and by then, I’d already called customer service twice. You’d think with all the tech banks have, they could make these things clearer. Escrow jumps are rough too, but at least you expect those around tax season. The PMI stuff just feels like it comes out of nowhere.
It’s wild how something as important as a mortgage statement can be so confusing. I’ve seen clients get tripped up by “partial payment” codes or random escrow adjustments too. Has anyone ever had a statement error actually impact their payment or credit? That’s the part that worries me most...
Title: When your mortgage statement looks like a cryptic crossword
Has anyone ever had a statement error actually impact their payment or credit? That’s the part that worries me most...
I've definitely seen it happen, though it's not super common. One client had a “suspense account” line pop up out of nowhere, and the next thing they knew, their payment was marked late. It took weeks to sort out. Do you think lenders make these statements intentionally confusing, or is it just outdated systems? I always wonder why something so important can be so hard to decipher.
