What Is ESCROW or Contract Collection?
Simply said, escrow is a financial arrangement where a neutral third-party, like the Bank of the Rockies, holds documents and controls the payment of funds required for two parties involved in a transaction, and until all of the terms of a given contract are met.
What We Do
As a neutral, third-party, Bank of the Rockies is committed to providing professional escrow – contract collection services for all types of independent financing arrangements. Whether you’re a seller, buyer, or investor, we offer complete contract collection services tailored to your needs and specific transaction. Our services are designed for any individuals, groups or businesses who wish to plan their own financial or lending arrangements, but desire the record keeping, security, and stability of a bank. Bank of the Rockies prides itself in being your community banking partner, and we have highly experienced staff to answer any questions you may have about this process.
- Collection of scheduled payments
- Tax and insurance reserve accounts
- Annual IRS tax information reporting forms.
- Electronic banking services (ACH), enabling payments to be both made and deposited without the hassle and time of mailing checks or trips to the bank.
- Online account viewing.
- Holding original documents required to release collateral and clear title, and delivery of documents upon full satisfaction.
Inquire with us about escrow fee discounts for Bank of the Rockies depositors!
For more information about this service of any other services, please contact Bank of the Rockies’ escrow service department. We look forward to providing you with the unparalleled service our customers have come to expect of the Bank of the Rockies.Get Answers