Legally required safeguard of funds held by financial institutions until services have been rendered.

An account paid into by the borrower and held by the lender to disburse funds on the borrower's behalf as they become due, such as for taxes and insurance. Also called an impound account.

A segregated account where customer money is kept separate from a dealer's operating funds.

A third party account that holds money safely while a sale is in progress. An account used to save monies required for the payment of an eventual debt. Often used by lenders to save for property taxes, hazard insurance, homeowner's dues, etc. Escrow accounts are typically non-interest bearing for the contributors, but may pay interest to the entity holding the account (lenders, title companies, lawyers, etc.).

An account held by the lender to which the borrower pays a monthly mortgage payment, for annual expenses such as taxes and insurance. The lender disburses escrow account funds in behalf of the borrower when they become due. Also known as impound account. Escrow Agent: A person with fiduciary responsibility to the buyer and seller, or the borrower and lender, to ensure that the terms of the purchase/sale or loan are carried out.

Third-party account for holding money, such as property taxes and insurance payments, prior to paying the expenses. The mortgage company accumulates the funds each month in an account and then pays the bills semi-annually on behalf of the customer. This allows the customer to budget the amounts each month instead of having to come up with the entire tax or insurance payment at once.

see TRUST ACCOUNT.

The segregated trust account in which funds are held by the lender for payment of taxes, insurance, mortgage insurance, lease payments (ground rent, etc.).

A bank account which is maintained by the lender to be used for payment of property taxes and insurance premiums on the secured property. The borrower makes regular deposits (typically included the monthly payment) and the lender pays those expenses out of the account.

Used by lenders to hold money for taxes and insurance on a home.

MP] In a home mortgage transaction, a deposit account maintained by the lender and funded by the borrower, from which the lender makes tax and insurance payments for the borrower as they come due.

An account established with a mortgage lender comprising of funds from a borrower used to pay taxes and insurance premiums when they become due. (Also known as impounds or reserves)

Many loans require that you pay a portion of the annual real estate taxes and homeowner's insurance along with your monthly loan payment. This is commonly known as an escrow account. Your money is held by the lender who pays the property tax and homeowner's insurance bills when they are due. Back to the top

A trust account created by a third party to hold money. A mortgage escrow account is an account set-up to pay taxes and insurance. Monthly mortgage payments may include 1/12 of annual property taxes and insurance. When the bills comes due, lenders use the money in the escrow account to pay them.

the lender may have the borrower establish this "savings account" to set money aside which is earmarked to pay taxes and insurance on the property. A portion of every mortgage payment goes into an escrow account. This account is not interest earning for the borrower. The lender is then responsible for paying the tax and insurance bills with these reserved funds.

A portion of the mortgager's monthly payment that is held by the lender to pay for taxes and insurance.

An account which has been created specifically to hold a portion of an applicant's mortgage payment for the subsequent payment of real estate taxes, hazard insurance, pmi insurance, and special assessments.

See impound account.

An account in which a prescribed amount of money is deposited each time a payment is collected to be used for purposes provided in the escrow agreement. The most common is the collection escrow to administer payments made by a Buyer to a Seller.

In a security offering this is an account where investment funds collect until certain specified escrow instructions are met. While widely promoted as a ‘safety mechanism’ proving the investment is legitimate, an escrow is of little practical value. The amounts necessary to release the escrow funds to the issuer are usually low enough that little is gained in protection.

1) An account set up during the purchase process to hold earnest money or other funds. 2) An account set up by the mortgage company to hold the borrower's money that's set aside to pay property taxes, hazard insurance or mortgage insurance.

An account held by the lender/servicer, into which a borrower makes monthly installment payments for property taxes, insurance and special assessments. The lender/servicer disburses these sums as they become due. This type of account is sometimes known as an 'Impound Account.'

Account held by lender containing funds collected in conjunction with monthly mortgage payments. Also known as impounds, the funds in this account are held in trust by the lender on behalf of the borrower, and are used to pay expenses such as property taxes and homeowner’s insurance.

is held by the lender on behalf of the borrower for the payment of taxes, insurance or special assessments: also called an impound account.|| Bottom of Page

Amounts paid in the monthly mortgage payment that create a fund held by the lender to pay expenses such as homeowners insurance, real property taxes, private mortgage insurance, etc.

After a purchase transaction closes, the buyer may have an escrow account. This is a separate trust account where the lender holds a portion of a monthly mortgage payment, which is a little higher than if the buyer were paying only on the principal and interest of the loan. This money is set aside, in an escrow account, to be used for payment of future real estate taxes, homeowner's insurance premiums and other on-going payments as they incur. Basically, it works like a checking account collecting funds gradually until payments are due at which time the funds are dispersed.

Also called an impound account, in FHA transactions an escrow account usually refers to the funds a mortgagor pays the lender and which are held in trust. It contains funds adequate to cover yearly, anticipated costs for mortgage insurance premiums, taxes, hazard insurance, premiums, and special assessments.

That portion of borrower's monthly payment which is held by the servicer to pay items such as property taxes, hazard insurance, mortgage insurance, and other items as they become due.

An account established with a third party (See “Escrow”)

A savings account established for the buyer by the lender. A portion of the buyers' monthly payment is deposited into this account for payment of future taxes and insurance.

A separate account within a mortgage in which funds are held for payment of taxes and insurance. An annual analysis is performed to determine if the current monthly deposits are sufficient enough to cover the upcoming years taxes and insurance payments. After the analysis is completed, the escrow portion of the payment may be adjusted.

The portion of a mortgagor's funds held in trust by the lender to pay future taxes, hazard insurance, mortgage insurance and other items as they become due. One twelfth of total cost if collected monthly as part of your mortgage payment.

An account set aside to accumulate money during the year for annual home related expenses such as insurance and property taxes.

The account in which escrow is held.

An account from which funds can be disbursed only for specified reasons; i.e. the money is held in trust for a specific use. In lending, these accounts are most often used to hold and disburse real estate taxes and hazard insurance premiums which have been paid in advance (usually on a monthly basis) by the borrower.

An account established by the mortgage servicer (who you make your payments to) to accumulate and disburse the borrower's property taxes, hazard insurance, mortgage insurance and other items.

The account between you and your mortgage lender that stores money you have deposited until you need it to pay for certain aspects of your loan, like closing costs, taxes or insurance fees.

A reserve account controlled by a fiduciary agent that is used to make regular homeowner's insurance and real estate tax payments. The borrower funds the account periodically.

When created by a title company or closing agent, this is the account that holds escrow funds. When created by a lender after closing, these are the funds collected monthly (in the mortgage payment) to pay taxes and insurance on the collateral when they come due.

An account set up by a lender for payment of taxes, insurance and other debts against a property.

A separate bank account that a broker uses to collect and disburse funds of clients. Also, an account set up by most lenders to which the borrower makes monthly payments for such obligations as real estate taxes, homeowners insurance and special assessments. The lender disburses funds from these accounts on behalf of the borrower.

An account usually established by the lender to make payments for hazard insurance and property taxes. You're monthly payment will include enough money to pay principal and interest to the bank for the loan as well as enough money to pay 1/12 of the annual taxes and insurance which gets deposited into the escrow account. This process protects the bank by insuring that the property remains insured and that the property is not taken through a process known as in-rem for unpaid taxes.

An account opened for a buyer to deposit money to cover expenses such as property taxes or homeowners insurance.

A holding account the lender uses to pay for the borrower's taxes, other periodic debts against the property, homeowner's insurance and, if applicable, mortgage insurance. It is collected monthly to pay annual or semi-annual costs. ederal National Mortgage Association (FNMA) - Popularly known as Fannie Mae. A privately owned corporation created by Congress to support the secondary mortgage market. It buys and sells residential mortgages insured by FHA, guaranteed by the VA, or conventional home mortgages.

The trust account established by a broker under the provisions of the license law for the purpose of holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction.

In mortgage servicing, an account established to hold the borrower's monthly payments for property taxes and homeowner's insurance. The servicer pays the tax and insurance bills from this account.

a bank account into which a tenant deposits withheld rent, to be withdrawn only when the landlord has corrected uninhabitable conditions in the rental unit or when the tenant is ordered by a court to pay withheld rent to the landlord.

Also referred to as a Reserve Account. The account that funds are held in by the lender for the payment of real estate taxes and/or homeowner's insurance.

Third party account for holding money, such as a buyer's earnest money and the owner's taxes and insurance payment.

A trust account held by the lender in the borrower's name to pay obligations such as property taxes and insurance premiums.

A third party account that holds money safely and neutrally while a sale is in progress.

An account to which a borrower makes monthly installment payments for property taxes, insurance, and special assessments, and from which the lender disburses the sum as payments become due.

An account that a mortgage servicer establishes on behalf of a borrower to pay taxes, insurance premiums, or other charges when they are due. Sometimes referred to as an "impound" or "reserve" account.

A special account in which a lawyer or escrow agent deposits money or documents that do not belong to him or his firm.

Payments made to the lender in addition to principal and interest for the purpose of paying property taxes and insurance.

A bank account upheld by a laywer or notary for the purpose of making payments to it in the process of the sale of property so that the money is "on the table" without actually handing it over to the other party. This is advised to prevent non-fulfilment.

An account established at a thrift institution into which a borrower makes monthly payments, usually a part of the monthly mortgage payment. The savings association draws funds from the escrow account to pay property taxes, insurance and any special assessments on the mortgaged property as they become due. Also called a reserve, impound, or trust account.... read full article

A financial account, separate from an operating account, maintained by a title company for the benefit of the parties to a real estate transaction.

Money collected in advance by the lender, usually on a monthly basis, for the payment of real estate taxes, betterment's and/or insurance.

The account into which money is deposited until it is used to pay escrow disbursements.

an account which sets aside money for payment of items such as property taxes and homeowner's insurance. The lender uses funds in the escrow account to pay these items on your behalf.

deposit held in trust by a third party available to pay debt service.

The account in which a mortgage servicer holds the borrower's escrow payments prior to paying property expenses.

a separate account into which the lender places monthly mortgage insurance, hazard insurance and real estate taxes paid by the borrower in their monthly mortgage payment. This account is a place these funds are held until such time they are due and payable. II II

An account in which a prescribed amount of money is deposited each time a payment is collected to be used for paying real estate taxes and /or insurance. For example, a mortgage, trust deed or land contract may require a monthly payment of $260 with an additional $40 to pay taxes and insurance. This $40 goes into an escrow account which, technically, belongs to the Purchaser. _______F_______

This is a special account held by the transferee's lender. Each month, the escrow portion of the mortgage payment is deposited in this account. When real estate taxes or insurance premiums become due, they are paid out of this account by the lender. Any funds left in this account are usually refunded within thirty days after the mortgage is paid-off. If there is no Escrow Account, the transferee is responsible for paying real estate taxes and insurance payments.

The account in which funds are held by the lender for the payment of real estate taxes and/or homeowners insurance. This can also refer to the account in which that funds are held for the completion of repairs or improvements to a property that cannot be completed prior to closing.

An account created for a specific purpose, such as to hold money for taxes and insurance, or to hold deposit money prior to closing.

A separate account in which the lender puts a portion of each month's payment into an account to pay your future property taxes, hazard insurance, and mortgage insurance. This may also be referred to as an impound account.

a fund used to set aside monies paid by the debtor for eventual payment of things like property taxes or property insurance. The financial institution holds the funds for eventual transmittal to a third party at a date in the future.

established by your lender, an escrow account is a place to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner's insurance, mortgage insurance (if applicable), and property taxes.

A segregated trust account associated with the mortgage loan to provide for payment of items related to the mortgaged property, such as real estate taxes, homeowner's insurance premiums, etc. Works like a small private checking account. The borrower pays the monthly portion of the amount of each escrowed item along with each principal and interest payment on the loan, and those monthly amounts are placed into the escrow account. The bills for the escrowed items are then paid out of the escrow account as they are due.

An account set up by a lender to which the borrower makes monthly payments for such obligations as real estate taxes, homeowners insurance, and private mortgage insurance. The lender disburses these funds on behalf of the borrower as the bills become due.

Money held in reserve by a mortgage lender to pay taxes and insurance for the property. An escrow account can also called a reserve, trust or impound account. The escrow account becomes a separate part of the monthly mortgage payment.

A special bank account maintained by the tender or an escrow agent. Funds are set aside so that the lender can pay the taxes, hazard and mortgage insurance, HOA rents and other special costs on the mortgage or property as they come due. Each month a certain portion, called the escrow payment, of the monthly mortgage payment goes into this account.

An Escrow Account is an account where funds are collected and set aside in a trust by a third party, typically to pay for taxes and insurance on the real estate in question.

A bank account established by the lender to set aside a portion of your monthly mortgage payment to cover annual charges for homeowner's insurance, mortgage insurance (if applicable), and property taxes.

An account established to pay for real estate taxes and homeowners' insurance.

An account that a mortgage lender or mortgage servicing company establishes to hold funds for the payment of expenses such as homeowners insurance and property taxes.

An account where money owed is kept until it is supposed to be paid. Estate The property of a deceased person.

A form of trust account in which advance payments are held on behalf of the payor until the contract allows their use by the payee or a third party.

An account set up by most lenders to which the borrower makes monthly payments for such obligations as real estate taxes, homeowner's insurance and special assessments. The lender disburses funds from these accounts for the borrower as bills come due.

Account held by a lender for the payment of taxes, insurance or other periodic debts against the property.

An account in which a portion of the monthly payment is held by the lender on the borrower's behalf for the payment of future taxes, mortgage and hazard insurance, special assessments insurance, and other on-going payments as they occur. Also called an Impound Account. Impound/escrow accounts allow one to make fractional payments for these charges as part of the monthly mortgage payments. The funds are gradually collected in the escrow account, then paid out in full when the charges become due.

An account held by the lending institution to which the borrower pays monthly installments for property taxes, insurance, and special assessments, and from which the lender disburses these sums as they become due.

A separate fund where lawyers are obligated to deposit money received from or on behalf of a client.

An account maintained by the lender, paid into monthly by the borrower, and used for the payment of property taxes, hazard insurance, and/or mortgage insurance.

A special bank account maintained by the lender or an escrow agent. Also known as an "impound account." An escrow account allows the new homeowner to set aside money so that taxes, hazard and mortgage insurance, ground rents, and other special costs on the mortgaged property can be paid. A certain portion called the escrow payment, of your mortgage payment goes into this account every month.

A trust account used to pay property maintenance expenses, property taxes, and other expenses related to a mortgaged property.

An account for holding earnest money or for accumulation that portion of a borrower's monthly payment designated for future payment of taxes, insurance, fees, assessment, etc. Required by certain lenders with certain types of financing.

The segregated trust account in which escrow funds are held.

Account held by a lender for payment of taxes, insurance and other periodic debts against real property. The borrower pays a portion of the total yearly assessment with each payment.

A temporary account used as a mediator between the financial accounts of the Grantor and Grantee while all aspects of the closing are being processed. It is used as a method of verifying for the Seller that the Buyer's funds are good, and as an assurance to the Buyer that the funds will not be disbursed until all the documents have been properly filed and all relevant fees are made known.

An account in which a mortgage provider retains the borrower's escrow payments prior to paying property expenses.

A trust account established to hold funds allocated for the payment of real estate taxes, insurance premiums, etc. as they are received each month and until such time as they are disbursed to pay related bills.

An account set up by the lender into which the borrower makes periodic payments, usually monthly, for taxes, hazard insurance, assessments and mortgage insurance premiums. The funds are held in trust by the lender who pays the sums as they become due.

An account held by the lender for payments of taxes, insurance, and other periodic debts against a property. The borrower pays a specific amount over and above the monthly loan payment, and the lender pays the bills with the accumulated funds. Some lenders require an escrow account for certain types of financing.

Once you close your purchase transaction, you may have an escrow account or impound account with your lender. This means the amount you pay each month includes an amount above what would be required if you were only paying your principal and interest. The extra money is held in your impound account (escrow account) for the payment of items like property taxes and homeowner’s insurance when they come due. The lender pays them with your money instead of you paying them yourself.

An account designed to hold a sum of money for a specific purpose. In real estate it is usually set up to pay the real estate taxes. In debt negotiation or settlement it is set up to pay off your debt in full once the amount is negotiated.

Money, securities, personal goods, or any other good that is held in an account by a third party until the requirements of the contract are met.

An account set aside by your mortgage servicer to pay for annual expenses such as insurance and property taxes. Part of your monthly mortgage payment goes into this account so you don't have to make one lump payment when these expenses are due.

An account established by a lender to collect a borrower's property tax and insurance payments. Impound accounts are normally required on mortgages with down payments of 10 percent or less.

Lenders often establish an account called escrow or impound account, to pay the tax and insurance and other additional charges of your monthly mortgage payment.

a fund of purchaser's money administered by the lender for the payment of taxes, insurance premiums or other debts against the property.

An account established with the lender at the time of closing, and paid into monthly by borrowers along with their principal and interest payments for the payment of real estate taxes, hazard insurance, PMI and flood insurance.

A separate, neutral account established by a real estate broker to hold documents and funds involved in a real estate transaction until all conditions of a sale are met.

An account in which the offering proceeds are kept prior to closing of an offering.

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.

Also known as "impound account" or sometimes called prepaids. This is an account set up by the lender for payment of taxes and insurances. Lender holds the portion of borrowers PITI in this account until such a time as taxes and insurances are due. Usually required by lenders for all loans with less than a 20% down payment.

Deposit account in a bank maintained by the charter operator that protects passenger funds until services are performed.

a special account in which monies are used to pay for taxes and insurances; money deposited from a portion of the borrower's monthly mortgage payments

An account in which money for property taxes and insurance is held until paid; money is added to the account every time a mortgage payment is made.

An account that a borrower can hold with a lender once a purchase transaction is closed. This requires borrowers to pay more than the principal and interest each month. The overage is put into escrow, which the lender uses to pay items like property taxes and homeowner's insurance when they are due. This eliminates the actual number of payments that a homeowner has to worry about, but not the amount that has to actually be paid.

Money deposited with FXDirectDealer is deposited in an escrow account at Citibank, NA.

In some cases, the lessee and lessor will agree to fund the lease up front rather then waiting until the property being leased is delivered and accepted. The funds to eventually pay the vendor are placed into an Escrow Account created through the use of an Escrow Agreement between the lessee and lessor. Tatonka may be the Escrow Agent that manages the Escrow Account or it may be a banking institution. Funds are invested and the earnings on the funds can accrue to the lessee or the lessor. This account can be used to disburse progress payments during the installation period if approved by the lessee and lessor, which is one of the primary reasons for using an Escrow Account. The other main reason is to "lock" in the interest rate at the time the Escrow Account is created rather than trying to hold or index an interest rate.

1) A third party account which holds money safely while a sale is in progress. 2) An account used to save monies required for the payment of an eventual debt.

An account held by the lender into which the home buyer pays money for tax and/or insurance payments. Typically, a portion of each monthly mortgage payment (PITI = principal, interest, taxes, insurance) will go into the escrow account for taxes and insurance and the lender will pay the taxes and insurance annually. It is also where deposits are held pending a loan closing.

In connection with loans secured by real estate, an escrow account is an account that a borrower pays into at the same time the borrower pays his or her loan payment, and from which the lender makes tax and insurance payments applicable to the borrower.

Funds held in a designated account for a specific purpose, which can be disbursed once certain conditions have been met.

Account provided by the lender to pay tax and insurance on the property.

Separate account where additional payments paid with the monthly mortgage payments are held to cover property tax and homeowner's insurance payments.

A neutral account that holds a sum of money, usually until a specific transaction is completed. Lenders often set up a type of escrow account, called an impound account, for you to prepay certain recurring costs: your first 6 months of property taxes, your first 2 months of hazard insurance and your first 2 months of mortgage insurance, if required.

That portion of the monthly mortgage payments held by the lender to pay for taxes, hazard insurance, mortgage insurance and other items as they become due.

Same as trust account.

An account held by the lender to which the borrower pays monthly installments, collected as part of the monthly mortgage payment, for annual expenses such as taxes and insurance. The lender disburses escrow account funds on behalf of the borrower when they become due. Also known as Impound Account.

A third-party account used to retain funds, including the property owner's real estate taxes, the buyer's earnest money, or hazard insurance premiums.

account held by the lender into which a homeowner pays money for taxes and insurance

Each month you will include with your payment, 1/12 of the annual property taxes and homeowners insurance premium. When these bills are due to be paid, the lender will pay them for you.

An account often required by the lender to pay taxes and insurance. Every time a mortgage payment is made, a portion goes into the escrow account. When the taxes and insurance bills are due on your home, the lender pays the bills with funds from this account.

The account that funds are held in by the lender for the payment of real estate taxes, homeowner's insurance and/or flood insurance.

A bank account generally held in the name of the depositor and an escrow agent which is returnable to the depositor or paid to a third person on the fulfillment of a condition.

Money that is set aside and held by a third party for the purpose of paying taxes, insurance, or mortgage insurance.

An account that the lender or mortgage servicer establishes to hold funds for the payments for property taxes and insurance.

Money collected as part of each mortgage payment to pay taxes, insurances, and other ongoing payments. The funds are held by the lender, who in turn makes payments as they become due. This is done as a service to the borrower who wants the fees paid in increments. annie Mae (Federal National Mortgage Association)

a separate account into which the lender puts a portion of each monthly mortgage payment; an escrow account provides the funds needed for such expenses as property taxes, homeowners insurance, mortgage insurance, etc.

An account maintained with a lender to hold money to pay real estate taxes and insurance. Also used by brokers to hold buyers' earnest money for real estate transactions.

An account in a bank, title company, credit union, savings association, or trust company used solely for safekeeping customer funds and not for deposit of personal funds

An account established by an escrow agent to hold funds for the agent's principal until the consummation of the transaction

The account that funds are held in by the lender for the payment of real estate taxes and/or homeowner's insurance. Can also refer to the account that funds are held in for the completion of repairs or improvements to a property that cannot be completed prior to closing.

Funds that a lender collects to pay monthly premiums in mortgage and homeowners insurance, and sometimes to pay property taxes.

A separate account for accumulating the portion of your monthly payments that will pay future taxes, insurance, fees, assessments and so forth. Depending on your lender and the financing you select, an escrow account may be required.

Commonly used after closing on a home. This is an account set up that you automatically pay into with your monthly payment. For example, an escrow account could be set up to pay the property taxes. You pay your normal (principal and interest) payment PLUS extra to cover taxes at year's end. This money is held in an escrow account until they come due.

A holding account for the amount a mortgage borrower pays each month and which the lender uses to pay for the borrower's taxes, other periodic debts against the property, homeowner's insurance and, if applicable, mortgage insurance.