An account that a lender or mortgage servicer establishes to hold funds for the payment of expenses such as homeowners insurance and property taxes. Also known as an impound account. …
Escrow Agent
A neutral third party who ensures that all conditions of a real estate transaction are met. …
Escrow Analysis
A lender's periodic examination of an escrow account to determine if the lender is withholding enough funds from a borrower's monthly mortgage payment to pay for expenses such as property taxes and …
Escrow Closing
Escrow closes when all conditions of a real estate transaction are met and the title of the property is transferred to the buyer. …
Escrow Company
A firm that acts as a neutral third party to ensure that all conditions established by the buyer, seller, and lender in a real estate transaction are met. …
Escrow Payment
Funds that a mortgage servicer withdraws from a borrower's escrow account to pay property taxes and insurance. …