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Escrow Banking

  • 1.  Escrow Banking

    Posted 05-22-2022 08:06

    I'm curious as to what banks are being used by other title companies and if you're happy with your banking fees monthly. Does anyone have a suggestion of a bank that might waive wire fees? 

    Thank you!



    ------------------------------
    Kristen Cappitelli
    Good to be Home Title Agency
    Medford NJ
    +1 (908) 621-1192
    ------------------------------
    ALTA Marketplace


  • 2.  RE: Escrow Banking

    Posted 05-23-2022 08:41
    Hi,

    I use Signature bank and I do not pay any fees. I am not sure if this is due to my long standing accounts and relationship with them. I do know some things have changed. Give them a call, they are a private client bank.  Perhaps they can alleviate some of these excess fees.

    We have to cut the fat somewhere, its getting tougher every day.




    ------------------------------
    Teresa Schifano
    President
    Priority One Title Agency, Inc.
    Ronkonkoma NY
    +1 (631) 451-0115
    ------------------------------

    ALTA Marketplace


  • 3.  RE: Escrow Banking

    Posted 05-23-2022 09:33
    I use Bank United. I also have Qualia and they have a great integration with Qualia - pushes positive pay directly to the bank automatically. Draws down reconciliation data too. And they have a program that will off-set the Qualia reconciliation service fees.

    Bank fees are $150 per month, flat fee across all accounts. No wire fees. No stop payment fees. And if you are doing enough volume, they wait the $150 too.

    ------------------------------
    Cheryl Evans
    CEO
    Zen Abstract
    Perkasie PA
    +1 (267) 855-2021
    ------------------------------

    ALTA Marketplace


  • 4.  RE: Escrow Banking

    Posted 05-24-2022 16:59
    What has your overall experience been with Bank United?  We use ResWare operating system.  We are looking into to making the switch to Bank United.   I appreciate your feedback.

    ------------------------------
    Kim Smith
    Compliance Officer
    West Michigan Realtors Title Co.
    Grand Rapids MI
    +1 (616) 447-7017
    ------------------------------

    ALTA Marketplace


  • 5.  RE: Escrow Banking

    Posted 05-25-2022 14:12
    I love Bank United. They make everything easy. They have a department dedicated to title insurance so they understand exactly what we need. They just launched a new online portal that is very easy and straightforward to use. The prices are low. They don't nickle and dime for every little thing - it's just a flat fee. You can do mobile deposits and they will provide a deposit machine for your office too. Their customer support team is great. I really can't say anything bad.

    ------------------------------
    Cheryl Evans
    CEO
    Zen Abstract
    Perkasie PA
    +1 (267) 855-2021
    ------------------------------

    ALTA Marketplace


  • 6.  RE: Escrow Banking

    Posted 05-25-2022 14:14
    As an agent, I have banked with PNC, Bank United and now MVB Bank.  Bank United is good, but not the best.  Check out MVB Bank.  No fees, free checks, scanner, phone app, ect.  They have team and product specifically for title agents.  The manager of the team over there is Sheri Van Vranken.  Check it out.

    ------------------------------
    Jesse Coppel
    Auditor

    ------------------------------

    ALTA Marketplace


  • 7.  RE: Escrow Banking

    Posted 09-19-2022 15:51
    We are a third party escrow reconciliation company where many of our clients utilize Bank United and we have a partnership with them that has worked nicely with our clients with great pricing structure. 

    Mary Anne Harris
    Positively Balanced, LLC
    Georgia
    770-975-1475

    ------------------------------
    Mary Anne Harris
    Owner/President
    Positively Balanced, LLC
    Acworth GA
    +1 (770) 975-1475
    ------------------------------

    ALTA Marketplace


  • 8.  RE: Escrow Banking

    Posted 06-28-2022 14:59
    Now that we're moving the office over to BankUnited / Qualia, where do you order your escrow checks from? The prior provider I used with our old software seems to be unresponsive. 

    Thank you!

    ------------------------------
    Kristen Cappitelli
    Good to be Home Title Agency
    Medford NJ
    +1 (908) 621-1192
    ------------------------------

    ALTA Marketplace


  • 9.  RE: Escrow Banking

    Posted 06-28-2022 15:41
    I've used a company called ASAP Checks for the last 20 years. Never once been disappointed, and by far the best prices anywhere.

    For Qualia/Bank United, you only need blank check paper. Qualia prints everything on the check.

    https://www.asapchecks.com/

    ------------------------------
    Cheryl Evans
    CEO
    Zen Abstract
    Perkasie PA
    +1 (267) 855-2021
    ------------------------------

    ALTA Marketplace


  • 10.  RE: Escrow Banking

    Posted 06-28-2022 15:54
    We handle three-way escrow reconciliations with Qualia and Bank United and all other real estate software's if you ever need our assistance.   We have been in business for over 20 years and assistance clients nationally. 

    Mary Anne Harris
    Positively Balanced, LLC
    770-975-1475


    Mary Anne Harris

    President

      

    My Digital Business Card

     

    Schedule A Meeting

     

     

    3662 Cedarcrest Road | Suite 200 | Acworth, GA 30101     

    Office: 770.975.1475 | 1.800.931.6038

    Direct:770.738.7475 | efax 770.874.5007

    Cell: 404.797.2423

    www.positivelybalanced.com Iwww.positivelyclosed.com

     

     

    CONFIDENTIALITY WARNING: This message and all its attachments, if applicable, may contain information that is privileged and confidential, the disclosure of which is governed by applicable law.  If the reader of this message is not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, the reader is hereby notified that any dissemination, distribution, reproduction or copying of this information, electronically or otherwise, is strictly prohibited. If the reader has received this message in error, please notify the sender immediately and arrange for the return or deletion of this message along with all attachments.

     

    ATTENTION: Email Fraud is on the rise and hackers are trying to fraudulently misdirect funds. Our office will NEVER send you instructions via email and will NEVER ASK FOR ANY MONEY TO BE SENT TO US OR ANYWHERE ELSE. OUR OFFICE DOESN'T DISBURSE FUNDS FOR ANY CLIENT. PLEASE CALL OUR OFFICE IMMEDIATELY should you receive wire instructions by email from anyone at all.





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  • 11.  RE: Escrow Banking

    Posted 05-24-2022 09:50
    I too use Bank United. Service has been very good. Flat rate fee of $150 unless you maintain 1 mil daily balance. Love having mobile app too. Our last online bank did not offer this service. I am a Qualia user and agree good integration. Bonus offered us free checks for new accounts.

    ------------------------------
    Gail Malloy
    Owner
    Westmoreland Paralegal Services
    Greensburg PA
    +1 (724) 832-8683
    ------------------------------

    ALTA Marketplace


  • 12.  RE: Escrow Banking

    Posted 05-25-2022 07:33
    We are a third party escrow reconciliation company, Positively Balanced and we have many clients that use Bank United and they have been very happy with their banking needs and it's a good bank on our side when it comes to reconciling their accounts. 

    Mary Anne Harris

    President

      

    My Digital Business Card

     

    Schedule A Meeting

     

     

    3662 Cedarcrest Road | Suite 200 | Acworth, GA 30101     

    Office: 770.975.1475 | 1.800.931.6038

    Direct:770.738.7475 | efax 770.874.5007

    Cell: 404.797.2423

    www.positivelybalanced.com Iwww.positivelyclosed.com

     

     

    CONFIDENTIALITY WARNING: This message and all its attachments, if applicable, may contain information that is privileged and confidential, the disclosure of which is governed by applicable law.  If the reader of this message is not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, the reader is hereby notified that any dissemination, distribution, reproduction or copying of this information, electronically or otherwise, is strictly prohibited. If the reader has received this message in error, please notify the sender immediately and arrange for the return or deletion of this message along with all attachments.

     

    ATTENTION: Email Fraud is on the rise and hackers are trying to fraudulently misdirect funds. Our office will NEVER send you instructions via email and will NEVER ASK FOR ANY MONEY TO BE SENT TO US OR ANYWHERE ELSE. OUR OFFICE DOESN'T DISBURSE FUNDS FOR ANY CLIENT. PLEASE CALL OUR OFFICE IMMEDIATELY should you receive wire instructions by email from anyone at all.




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  • 13.  RE: Escrow Banking

    Posted 05-25-2022 07:38

    We are a third party escrow reconciliation company, Positively Balanced that have clients nationally and we have many clients that use Bank United and they have been very happy with their banking needs and it's a good bank on our side when it comes to reconciling their accounts.   



    ------------------------------
    Mary Anne Harris
    Owner/President
    Positively Balanced, LLC
    Acworth GA
    +1 (770) 975-1475
    Maryanne@positivelybalanced.com
    ------------------------------

    ALTA Marketplace


  • 14.  RE: Escrow Banking

    Posted 05-25-2022 10:37
    Good Morning. I understand that Bank United doesn't have a physical branch (correct me if I am wrong). Ease of creating a deposit when cash is involved proved to be an issue for us.

    ------------------------------
    Tendi Hart
    Accounting Manager
    Pacific Northwest Title Company of Kitsap County, Inc.
    ------------------------------

    ALTA Marketplace


  • 15.  RE: Escrow Banking

    Posted 05-25-2022 12:30
    They do not have physical branch locations. We will not accept cash as payment so this has been a non-issue for us.

    ------------------------------
    Cheryl Evans
    CEO
    Zen Abstract
    Perkasie PA
    +1 (267) 855-2021
    ------------------------------

    ALTA Marketplace


  • 16.  RE: Escrow Banking

    Posted 05-25-2022 13:09
    As a best practice, we do not accept cash either. Our previous bank, FA Trust, was an online bank as well.

    ------------------------------
    Gail Malloy
    Owner
    Westmoreland Paralegal Services
    Greensburg PA
    +1 (724) 832-8683
    ------------------------------

    ALTA Marketplace


  • 17.  RE: Escrow Banking

    Posted 06-01-2022 12:49
    who is your contact at Bank United?




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  • 18.  RE: Escrow Banking

    Posted 06-01-2022 13:21
    I'm now working with: Elier Diaz <EDiaz@BankUnited.Com>

    Cell: 813.416.9767



    ------------------------------
    Kristen Cappitelli
    Good to be Home Title Agency
    Medford NJ
    +1 (908) 621-1192
    ------------------------------

    ALTA Marketplace


  • 19.  RE: Escrow Banking

    Posted 06-01-2022 14:06
    We have a great working relationship with Anthony Kurche at akurche@bankunited.com.  

    Mary Anne Harris

    President

      

    My Digital Business Card

     

    Schedule A Meeting

     

     

    3662 Cedarcrest Road | Suite 200 | Acworth, GA 30101     

    Office: 770.975.1475 | 1.800.931.6038

    Direct:770.738.7475 | efax 770.874.5007

    Cell: 404.797.2423

    www.positivelybalanced.com Iwww.positivelyclosed.com

     

     

    CONFIDENTIALITY WARNING: This message and all its attachments, if applicable, may contain information that is privileged and confidential, the disclosure of which is governed by applicable law.  If the reader of this message is not the intended recipient, or the employee or agent responsible to deliver it to the intended recipient, the reader is hereby notified that any dissemination, distribution, reproduction or copying of this information, electronically or otherwise, is strictly prohibited. If the reader has received this message in error, please notify the sender immediately and arrange for the return or deletion of this message along with all attachments.

     

    ATTENTION: Email Fraud is on the rise and hackers are trying to fraudulently misdirect funds. Our office will NEVER send you instructions via email and will NEVER ASK FOR ANY MONEY TO BE SENT TO US OR ANYWHERE ELSE. OUR OFFICE DOESN'T DISBURSE FUNDS FOR ANY CLIENT. PLEASE CALL OUR OFFICE IMMEDIATELY should you receive wire instructions by email from anyone at all.




    ALTA Marketplace


  • 20.  RE: Escrow Banking

    Posted 06-02-2022 13:53

    Elier Diaz
    Bank United
    EDiaz@bankunited.com
    813-416-9767

    ------------------------------
    Cheryl Evans
    CEO
    Zen Abstract
    Perkasie PA
    +1 (267) 855-2021
    ------------------------------

    ALTA Marketplace


  • 21.  RE: Escrow Banking

    Posted 08-29-2022 09:26

     

     

     

     

     

     

    Jenny M. Carlson

    Settlement Coordinator

    BLUE RIDGE SETTLEMENT COMPANY, LLC 
    529 Carlisle Street
    Hanover, PA 17331 
    (717) 630-9688 Phone 
    (717) 630-0691 Fax

      www.beckerlawgrouppc.com

     

    BECKER LAW GROUP, P.C.

    When Results Matter®

     

     




    ALTA Marketplace


  • 22.  RE: Escrow Banking

    Posted 06-10-2022 17:31
    Edited by Tendi Hart 06-13-2022 10:56
    ALTA Marketplace


  • 23.  RE: Escrow Banking

    Posted 06-13-2022 06:25
    Tendi,

    It depends entirely on your state's rules regarding good funds. In my state, Texas, debit and credit cards haven't been approved as a source of good funds. But paper checks up to (but not exceeding) $499.00 are, and money orders up to $1,500.00 are.  You'll need to check to see how it's allowed in the insurance regulations. I would imagine there's a manual or website. Good luck!

    ------------------------------
    Cathy Clamp CTIP, NTP
    Escrow Officer
    Heart of Texas Title Co., LLC
    Brady TX
    +1 (325) 597-0796
    ------------------------------

    ALTA Marketplace


  • 24.  RE: Escrow Banking

    Posted 06-13-2022 09:50
    Due to the IOLTA and Escrow rules in most states, we accept checks only. If you accepted debit or credit cards it would create several potential issues:

    1.  You would need to fund the fees from your operating account prior to disbursement.

    2.  With respect to credit cards, most Lenders prohibit their Borrowers from borrowing their down-payment or closing costs and credit cards are Borrowing.

    3.  A debit or credit card does not usually provide the same paper trail that the Lender is looking for with regard to the Source of the Funds.

    4.  ACH deposits are reversible by the depositor so they do not normally fall within the definition of "good funds" required prior to disbursement.

    I am sure there are other considerations also.

    Kim
     
    Kimberly A. Gilbert-Toelle, Esq.*
    Raber Law Offices, PLLC
    105 N. College Street
    Martinsburg, WV 25401
    Phone: 681-260-6455
    Fax: 304-441-5551
     
    *Admitted in West Virginia, Maryland, and the District of Columbia only
     




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  • 25.  RE: Escrow Banking

    Posted 06-13-2022 10:44
    WA State RCW. https://app.leg.wa.gov/rcw/default.aspx?cite=18.44.400



    Paul

    Sent from my iPhone

    Click Here to Leave a Review 

    WARNING: FRAUDULENT FUNDING INSTRUCTIONS: Email hacking and fraud are on the rise to fraudulently misdirect funds.  Please call your escrow officer immediately using contact information found from an independent source, such as the sales contract or internet, to verify any funding instructions received.  We are not responsible for any wires sent by you to an incorrect bank account.




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