My lender has increased my payments into the escrow account for taxes and insurance. What can I do? Or the amount my lender is collecting for taxes and insurance doesnt seem right? What can I do? VA does NOT require lenders to maintain escrow accounts. VA does require that lenders ensure that the property is covered by sufficient hazard insurance at all times and that property taxes are paid. Most lenders decide to use escrow accounts to do this, but they are not required by VA and VA has no standards governing them. They are governed by RESPA which is administered by the US Dept. of Housing and Urban Development. For more information, click here.