Escrow & Title
What is an 'escrow waiver' and when might it be appropriate in Rhode Island?
AA waiver allowing the buyer to skip closing
BA lender's agreement to waive the requirement that taxes and insurance be escrowed, typically available for borrowers with a low LTV and good credit✓ Correct
CA waiver of all title insurance requirements
DA waiver allowing the buyer to defer closing costs
Explanation
An escrow waiver allows a borrower with low LTV and strong credit to pay taxes and insurance directly rather than through a lender-maintained escrow account. The borrower may pay a small fee for this waiver.
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