Definition of standard. 1 : a conspicuous object (such as a banner) formerly carried at the top of a pole and used to mark a rallying point especially in battle or to serve as an emblem.
Escrow Account Defined in Simple Terms. An escrow account is a deposit account that is created by a third party, usually an escrow agent, to hold in trust valuable assets that are tied to a transaction process on behalf of the transacting parties.
Accessing Your Account Information. If you currently have an escrow account with PennyMac (in which we collect certain recurring property-related expenses within your monthly payment, such as property taxes and homeowners insurance), and you receive a copy of your tax bill, it is not necessary for you to send that information to us.