Finance
In Minnesota, 'mortgage escrow' (impound account) collects monthly amounts for:
AThe real estate commission
BProperty taxes and homeowners insurance, paid by the lender when due✓ Correct
CHOA dues and special assessments
DThe borrower's life insurance premiums
Explanation
A mortgage escrow (impound) account collects monthly amounts for property taxes and homeowners insurance in addition to principal and interest. The lender holds these funds and pays taxes and insurance when they come due. RESPA limits the amount lenders can hold in escrow (no more than 2 months' cushion).
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