Review Escrow Contract Servicing Payment History
Security 1st Title provides secure and reliable contract servicing utilizing the latest technology to ensure efficiency, accuracy and transparency. When seller financing is involved, this service role is a third party between a buyer and a seller. We see and act as a neutral third party for the payment process.
With Security 1st Title, all parties involved receive easy-to-follow instructions, and outstanding customer service. When questions arise about an account, Security 1st Title responds to inquiries promptly with a dedicated team of experts.
IN THESE ARRANGEMENTS, CONTRACT SERVICING MAY INCLUDE:
- Holding transfer documents in escrow until the terms of the agreement are fulfilled
- Online access to payment history and reserve balance
- Monthly payments (via payment coupons or automatic ACH debits from the borrower’s bank account)
- Direct deposit to the lender/seller’s bank account
- Payment receipts and notices for funds received, applied and disbursed
- Automatic assessment of late fees
- Payoff statements
- Full principal, interest, reserves (PITI) reporting
- Annual I.R.S. 1099 and 1098 tax interest forms in conjunction with prior years payment history