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Escrow account |
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Escrow accountAn account a lender or mortgage servicer establishes to hold funds for the payment of expenses such as homeowners insurance and property taxes. Also known as an impound account.Escrow account Similar MatchesJoint accountJoint accountAn agreement between two or more firms to share risk and financing responsibility in purchasing or underwriting securities, or an account owned jointly by two or more persons at a bank or brokerage house. Account balanceAccount balanceCredits minus debits at the end of a reporting period. Real accountReal accountA ledger account detailing assets and capital (such as buildings and machinery). Nominee accountNominee accountAn account in which the named holder holds the assets in it on behalf of another (the beneficiary). In the stock market, the most common use of nominee accounts is where execution-only brokers act as nominees for their clients. The shares are registered in the name of the broker, but the client has beneficial ownership of them. The advantage of nominee accounts is that they make settlement quicker and more streamlined. In theory, dealing costs should be lower. There are some disadvantages: because the individual isn't the registered owner of the shares, he doesn't get sent company reports and accounts, and can't take advantage of shareholder perks, unless his brokers provides a special forwarding service. Frozen accountFrozen accountA disciplinary action taken by the Federal Reserve Board for some violation of Regulation T, an individual investor cannot sell securities until they are paid for in full and certificates delivered. Further SuggestionsAccounting earningsindividual savings account Sweep account House account Insured account accounting reference date Open account savings account postal account Capital account Historical Cost Accounting Convention accounts payable statement of account current account Individual Retirement Account (IRA) nominal account Account statement Unmargined account Account Management Profile System Mixed account budget account Accounts receivable financing joint account Current account surplus Capital Builder Account (CBA) |
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