First Mortgage Escrow Information

Welcome to   •   Updated January 3, 2016 3:05 PM  
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Thank you for visiting First Mortgage, Inc., online. Our company has provided escrow/collection needs for over thirty years.
First Mortgage, Inc. is determined to bring the very best service to your personal escrow needs.

All escrows are required to provide a W-9 form (upon set up or request) to validate information furnished to the
IRS by First Mortgage. Failure to provide may delay processing on the account and/or penalties assessed.
You may obtain the form from the IRS website

Advantages of using an escrow company:
• Third Party payment processing
• Annual statements of interest earned and paid
• Neutral party to safeguard documents
• Multiple disbursement options for receipt of funds
• Payment reminders and late charge notices
• Payment options for payers, such as mail in coupons or automatic withdrawal
• Bill paying, such as personal/real property taxes, insurance, space rent, etc.

Duties of the escrow company:
• Receive and disburse funds as instructed
• Retain payment records
• Provide receipts
• Comply with interest reporting requirements
• Safeguard documents until authorized for delivery

Duties escrow company is not contracted to do:
• Suffer loss due to insufficient funds
• Negotiate terms for either party
• Guarantee the condition of the title to any real/personal property
• Ensure the legality of documents held in escrow

Note to Customers... Payments received on weekends or holidays will be posted to your account
the next business day. Please contact the office if you are unsure the payment will be received after
the grace period for any amounts due in addition to your payment.


© 2014, All Rights Reserved   /   First Mortgage, Inc.  / 4141 B Street, Suite 305  /  Anchorage, Alaska  /  99503