Is this a standard escrow authorization for mortgage refi?

Non-investing personal finance issues including insurance, credit, real estate, taxes, employment and legal issues such as trusts and wills
Post Reply
Topic Author
mc510
Posts: 50
Joined: Tue Oct 25, 2011 1:47 pm

Is this a standard escrow authorization for mortgage refi?

Post by mc510 » Sat Aug 01, 2020 12:23 pm

Got a stack of forms to sign from Watermark for a refi, and I'm wondering about the one authorizing escrow actions. It's probably standard and exactly what is needed for escrow to proceed, but I don't really know what it means so just want to get confirmation:

AN ESCROW HAS BEEN OPENED BY FIDELITY NATIONAL TITLE COMPANY. IN ORDER TO EXPEDITE YOUR TRANSACTION, WE NEED YOUR AUTHORIZATION TO REQUEST DEMANDS AND ANY CHANGES TO POLICIES, ETC.
As may be specifically and properly required to complete my transaction described in escrow instructions, you are hereby authorized and instructed to obtain and comply with transfer instructions and pay-off "demands" from any current lender or lien holder and to make payment(s) in full from funds
accruing to my account at close of escrow including but not limited to, Forwarding/service/transfer fees/payments/reconveyance fees, interest or prepayment charges as demanded by such instructions without my further approval.

Post Reply