Definitions for "Impound Account"
Keywords:  escrow, disburse, held, hazard, tax
A reserve account for collecting monies due in the future; e.g. tax escrow.
Funds retained by a lender to cover such items as taxes and hazard insurance premiums.
An account held by the lender/servicer, into which a borrower makes monthly installment payments for property taxes, insurance and special assessments. Also know as an Escrow Account.
A standard form which itemizes the closing costs associated with purchasing a home or refinancing a loan.