A Study and Design of an In-House Escrow System for Real Estate Taxes and Property Insurance for Real Property Financed with FmHA Appropriations

摘要

The goal of this thesis is to develop an escrow system for real estate taxes and real property insurance that would be in furtherance of the statutory mandate to the Secretary of Agriculture contained in both the Rural Development Act of 1972 and the Housing and Community Development Act of 1974. The report provides a written analysis of the background of the escrow system, the various issues and problems concerning the escrow system, and a design of a practical escrow system for taxes and insurance that could be used in the future by the FmHA. The scope of the thesis includes a detailed review and analysis of the laws, regulations and policies of the Department of Agriculture and other Federal agencies. A review of the practices of commercial enterprises and several different escrow systems in effect and operating today is also included.