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Attorneys can have their clients contract directly with ESNY for escrow agent service, just as they already do for other services involved in a real estate closing or other escrow situations.
ESNY provides bonded independent security for escrow deposits, assuming direct responsibility for escrow funds at every step of the escrow process, "right through to the delivery of signed and certified checks at closings."
ESNY credits all interest earned on escrowed funds directly to the client with clients being billed directly for ESNY's services at closings, on a fee schedule based on the amount in escrow.
As a result, ESNY's Voss said, "escrow service clients have clear, fully insured protection at little or no cost and the client's attorney is out of the thankless business of record-keeping and worrying about escrowed funds."
We're assuring this for the attorney's clients by having one of the country's largest financial service organizations, which already safeguards more than $800 billion, serve as ESNY fund custodian.
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