Escrow Solutions

What is Escrow Solutions?

Huntington Escrow Solutions is an easy-to-use, self-service online platform that can help reduce the administrative burden of managing your clients’ escrow balances or your own self-managed funds. Within a single master account, you’ll be able to perform sub-accounting on an individual account level.

When in charge of handling money and documents, it’s vital to keep the process as simple as possible. From commercial real estate developers to healthcare facilities or law firms, Huntington provides businesses with the tools and resources to help streamline escrow management.

Expenses escrow can be used for

• Landlord tenant/property management
• Homeowners association (HOA) fees
• 1031 exchanges
• Government/Non-Profit/Healthcare Funds management
• Non-IOLTA (Interest on Lawyer Trust Accounts) Escrows (used for class action, litigation, and structured settlements)
• Mortgage loan services
• Utility deposits
• Home builders
• HUD Housing Urban Development /URA Urban Redevelopment Authority operators
• Tuition payment plans

Capabilities of our escrow solution

• Unlimited number of sub-accounts per primary account
• Interest earned on sub-accounts
• Structure that insulates sub-accounts which helps prevent check and ACH fraud
• Monthly combined statements
• Robust audit trails, including 1099 year-end tax reporting
• Online sub-account management so you can open, close, and disburse funds
• Set up ACH or wire deposits to post directly to existing sub-accounts
• Non-interest or interest-bearing options available for sub-accounts