Manage Your SPIRE Mortgage

SPIRE Digital Banking

We recommend paying your loan on SPIRE Digital Banking. You can make one-time payments or monthly automatic payments from either your SPIRE account or an account at another financial institution. You can also use BillPay.

SPIRE Branch

You can pay your loan in person by visiting your nearest SPIRE branch. You can also use the night depository to drop-off your payment.

Mail

You may mail a check made out to SPIRE Credit Union and with your loan number on the check to:
SPIRE Credit Union
PO Box 130670
Roseville, MN 55113

Private Mortgage Insurance (PMI) is required on your loan if your Loan to Value ratio is more than 80%. PMI protects lenders and others against financial loss if the borrowers default. Charges for the insurance are added to your loan payments. Under certain circumstances, federal law gives you the right to cancel PMI or request PMI to automatically terminate.

If you are current on your loan payments, PMI will automatically terminate on the date the principal balance of your loan is first scheduled to reach 78% of the original value of the property.

If you would like to request the cancelation of PMI on your loan, please contact SPIRE Real Estate Servicing for guidelines.

If you have an Adjustable Rate  Mortgage (ARM) loan, you can re-lock your rate at a current available adjustable rate posted on our website.

To request a re-lock, please contact SPIRE Real Estate Servicing for details.

1. A complete copy of the title work and/or title agreement.
2. Income verification – most recent paystub.
3. Copy of the Underwriting and Transmittal Summary (1008).
4. Copy of new mortgage credit application (1003).
5. A complete copy of the Loan Estimate.
6. The closing date of the new mortgage.
7. The new mortgage amount.
8. The full name of the new first mortgage lender.
9. A complete copy of the appraisal. If not required for your loan, then Collateral Valuation (Fannie Mae/Freddie Mac) or AVM.
10. The mailing address to send the Subordination Agreement.
11. Contact information including name, phone, and fax number.
12. What kind of new mortgage is it (Term, Rate, Fixed, Variable, etc.)
13. A check for the $250 Subordination charge made out to SPIRE Credit Union. Please include your SPIRE Account Number or Social Security Number and reference that the check is for a Subordination Agreement.

Mail all of the above items to:
SPIRE Credit Union
ATTN: Real Estate Underwriting
2025 Larpenteur Ave W
Falcon Heights, MN 55113

Do not fax or email subordination requests to SPIRE. Please do not use staples.
General review/decision (to grant a subordination) process time is 5 business days from the date of receiving above listed items including the $250.00 processing fee. We will fax or email the agreement when it is complete (if requested) and we will mail the original. If you have any questions or concerns, please call us at 651.215.3500.

1. Once you've finalized your new insurance policy, make sure to cancel your homeowner's policy with your previous insurance provider. 
2. Your new insurance policy should include your loan number and this mortgagee cause:

SPIRE Credit Union
ISAOA/ATIMA
PO Box 130670
Roseville, MN 55113

3. If SPIRE has paid an insurance premium on your behalf to the previous provider within the past 12 months, retain any refund you receive from the previous provider. You should then pay your new provider's premium out-of-pocket. It does not need to be deposited into your escrow account at SPIRE.
4. If you would like SPIRE to make the new premium payment to your new insurance carrier, please contact us. Then, send a check in the amount of any refund you received from your previous carrier to be deposited into your escrow account payable to SPIRE Credit Union.
5. Any adjustments to your escrow account related to the cost of your homeowners insurance will be reflected on your next Annual Escrow Analysis in June.

Claims under $20,000

Bring the claim check to a SPIRE branch.
Be sure the check is endorsed by all parties (including a second mortgage lender, if applicable).
 

Claims between $20,000 - $40,000 

Submit the adjustors report to SPIRE Real Estate Servicing.
Obtain approval from Real Estate Servicing prior to requesting an endorsement from SPIRE.

Bring the claim check to a SPIRE branch.
Once approved, be sure the check is endorsed by all parties (including a second mortgage lender, if applicable).
 

Claims $40,000 and over

Endorse the check.
Be sure the check is endorsed by all parties (including a second mortgage lender, if applies).

Bring the check to a SPIRE branch or mail it to:
SPIRE Credit Union
Attn: Real Estate Servicing
2025 Larpenteur Ave W
Falcon Heights, MN 55113
We will deposit it into an interest-earning Loss Draft account.

Submit required documents to SPIRE
All pages of the Insurance Adjusters Report.
Estimate(s) from contractors(s): Must be signed by both the borrower(s) and contractor and include property address, description of the repairs, and the cost of the repairs.
Contractor’s license: The contractors will provide.
Declaration of Intent to Repair: must be completed and signed by at least on borrower.
Contract’s Lien Waiver: Completed by your contractor(s). All blank fields must be completed and amount listed must match the contractor’s estimate.

Ways to submit documents:

• Bring to a SPIRE Branch
• Fax to 651.215.3457
• Mail to: SPIRE Credit Union Attn: Real Estate Servicing 2025 Larpenteur Ave W Falcon Heights, MN 55113
• Email to realestateservicing@myspire.com

A check will be mailed.
When we receive and accept all the required paperwork, we will mail you a check for the greater of $40,000 or 33% of the total claim funds made payable to:

• Your contractor 
• All the parties listed on the mortgage
• All the parties listed on the insurance check

Request an initial inspection and receive additional funds.
When the repairs are at least 50% complete, request an inspection.
After an inspector verifies the work is at least 50% complete and we receive and verify required documents, we will issue another check for half of the remaining claim funds made payable to your contractor and parties listed on the mortgage/Insurance.

Request final inspection and receive the final funds
When the repairs are 100% complete, provide any remaining documents and request an inspection.
After the inspection is complete, we will issue a check for the remaining funds to the contractor(s) and parties listed on mortgage/Insurance. 
Approval and inspection request must be sent to Real Estate Servicing:
SPIRE Credit Union
Attn: Real Estate Servicing
2025 Larpenteur Ave W
Falcon Heights, MN 55113