Escrow - Law Dictionary Search Results
servicer
servicer a business that collects mortgage payments from borrowers and manages the borrower's escrow accounts. Source: U.S. Department of Housing and Urban Development
good faith estimate
good faith estimate an estimate of all closing fees including pre-paid and escrow items as well as lender charges; must be given to the borrower within three days after submission of
pending
pending 1 : during the time of 2 : while awaiting : in the time preceding [held in escrow the outcome of the suit] [free trial]
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no cost loan
no cost loan. Generally, it is a loan that does not charge for items such as title insurance, escrow fees, settlement fees, appraisal, recording fees or notary fees. It may also offer no points. This lessens the
hud1 statement
at or before closing. Items that appear on the statement include real estate commissions, loan fees, points, and escrow amounts. Source: U.S. Department of Housing and Urban Development
escrowee
escrowee : the one holding an escrow
Earnest money
711: AIR 2004 SC 1787 (1793). [Transfer of Property Act, 1882, s. 55(6)(b)] A deposit paid (usu in escrow) by a prospective buyer (esp. of real estate) to show a good faith intention to complete the transactions
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