IBMC Escrow Administration

Escrow Administration:IBMC Escrow Administration

Escrow Administration

• Insurance premiums related to property hazard insurance are generally paid out of escrow by IBMC 10 to 15 days prior to renewal date of policy

• IBMC is responsible for obtaining tax statements and payment of real estate taxes from the escrow account.  First American Tax Service is utilized in the fulfillment of this task.

• IBMC performs an initial escrow analysis on all loans it services.  Subsequent analyses are performed annually in October to ensure proper levels of funds are held in escrow.