Company Logo
Home Home | Privacy Policy Privacy Policy | Site Security Site Security
Apply Today
  • Apply Online
    • Prequalify
    • Edit Prior Application
    • Blank Printable Application
    • Printable Bilingual Application
    • Free Quick Quote
    • New Purchase
    • Refinance Adviser
    • Debt Elimination
    • spacerFree Information
      • VA Eligibility FAQ
      • The Mortgage Broker
      • Debt Consolidation FAQ
    • Broker VS Loan Officer
    • FHA - 1) Getting Started
    • Credit Risk
    • Closing Costs
    • Closing Process
    • Debt-to-Income Ratio
    • Accuracy of Credit Report
    • Pre-Qualification
    • Credit Report Errors
    • Deed of Trust
    • Escrow Accounts
    • Factors of the Credit Score
    • Holding Title
    • Home Inspection
    • Insurance Needs
    • LoanTerms
    • Mortgage Process
    • Raise Your Credit Score
    • Refinance Options
    • Texas Complaint Recovery Disclaimer
    • About Debt Consolidation
    • The Credit Score
    • The Escrow Agent
    • The FICO Score
    • The Home Appraisal
    • The Mortgage Servicer
    • Types of Loans
    • 1st Time Home Buying FAQ
    • About 1st Time Home Buying
    • FHA - 10) Products
    • FHA - 2) Finding Your Home
    • FHA - 3) You've Found It
    • FHA - 4) Financing
    • FHA - 5) First Steps
    • FHA - 6) Finding the Loan
    • FHA - 7) Closing
    • FHA - 8) HUD & the FHA
    • FHA - 9) Mtg Insurance
    • FHA FAQ
    • Refinance FAQ
    • About Refinancing
    • Jumbo Loan FAQ
    • VA Construction and Valuation FAQ's
    • VA Post-Loan FAQ
    • VA Pre-Loan FAQ
    • About New Construction Loans
    • Construction Loans FAQ
    • Optimizing Credit-Construction Loan
  • Loan Center
    • Loan Checklist
    • Loan Programs
    • Loan Update
    • Mortgage Glossary
    • FAQ
  • Calculators
    • Basic Mortgage Qualification
    • Bi-Weekly Mortgage
    • Detailed Mortgage Qualification
    • How Much Can I Afford?
    • Interest Only Payments
    • Monthly Loan Payment
    • Prepayment Analysis
    • Prepayment Mortgage Reduction
    • Principal After X Years
    • Rent vs. Own
  • Company Info
    • About Us
    • Privacy Policy
    • Testimonials
    • Site Security
    • Contact Us
  • Learn More
    • Web Links
 

What is an escrow agent?


A mortgage escrow agent is an independent third party, a person or company that manages the escrow account to facilitate the loan closing.� The escrow agent acts for both the buyer and the seller according to their instructions, safeguarding certain legal documents and funds in a transfer of real property until the specified performance is completed.�


Generally, the escrow agent participates at the end of the mortgage process, the loan-closing stage.�� The escrow agent works to aid in the closing of the loan, ensuring that all the buyer�s and seller�s conditions have been met.�


�

An escrow agent�s duties include:

  • Requesting a title search
  • Ensuring that the necessary process is followed to clear the title
  • Satisfactorily executing escrow instructions
  • Coordinating required insurance coverage, fee requirements
  • Recording appropriate documents
  • Holding funds and documents for closing
  • Obtaining properly signed and notarized documents
  • Consultation with clients explaining documents for signature
  • Providing copies of properly executed documents
  • Preparing final closing statement
Mortgage escrow accounts are usually set up for the purpose of managing on-going property related obligations such as taxes, insurance, and other fees, ensuring sufficient available funds and timely payment.�� A mortgage servicer will handle the management of the mortgage escrow.
 
Mortgage Tools
Mortgage Calculators Mortgage Calculators
Better understand your
loan options using
mortgage calculators!

Click Here Mortgage Calculators
Mortgage Glossary Mortgage Glossary
Become more familiar with
all the terms used in the
Loan Process

Click Here Mortgage Glossary
Contact Us
Roman Washington
Contact send email
Roman Washington
Loan Officer (NMLS#274841)

ph. 214-407-0700
fx. 214-540-1202
Apply Now
HUD Logo HUD Logo Home | Privacy Policy | Site Security | Contact
Priority Financial Network NMLS 103098
© 97-2020 Virtual Lender ®