Escrow is a mechanism used to effectuate real property transfers and other transactions such as exchanges, leases and sales of personal property, securities and loans. Escrow means any transaction wherein one party delivers an item of value, such as any written instrument, money or evidence of title to real or personal property, to an escrow agent. This item of value is then to be held until a specified event or performance of a prescribed condition occurs, when it is then to be delivered by the escrow agent to the other party for the purpose of affecting the sale, transfer, encumbering or leasing of real or personal property.
Current Challenges in Structured Financing in Property Development
With increased demand as bank’s escrow account grows, it needs to have an integrated, comprehensive and scalable platform that brings the organization and people together to efficiently manage its real estate investment portfolio and operations that can be used by all its employees including sales, operational, finance and property managers.
The Ascent Escrow management system provides account level management of all escrow accounts managed by banks with following features
Customer and Business Centric
Business Process Driven
Flexible & Efficient
Intelligent and Comprehensive
If you are interested you can have a look at the product demo