American_Bankers_Association
CTFA · Question #128
An account held by the lender into which the home buyer pays money for tax or insurance payments.
The correct answer is C. Escrow. See the full explanation below for the reasoning.
Fiduciary and Trust Activities
Question
An account held by the lender into which the home buyer pays money for tax or insurance payments.
Options
- AEntitlement
- BDeed of trust
- CEscrow
- DEarnest money
How the community answered
(50 responses)- A10% (5)
- B2% (1)
- C84% (42)
- D4% (2)
Topics
#escrow account#tax payments#insurance#mortgage servicing
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