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For escrows of computer source code, see source code escrow. An escrow is: a contractual arrangement in which a third party receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties, or.
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.