Sunwest Escrow does not report to any credit bureau on behalf of any of our escrow accounts. As an escrow agent we are not required by law to report to any credit bureau on escrow accounts that we hold. If you need something to give to a bank or someone else to try to get a loan or refinance a property we are happy to provide you with an accurate and detailed pay history. We have had very few instances in which this was not sufficient.
For escrow accounts we simply act as an impartial escrow agent. Our function is receive payments from the buyer and disburse them to the seller and make sure that all parties abide by the terms of the contract. At the end of the year we provide 1098 forms to each buyer, which show the amount of interest paid during the year. We do not provide 1099s to the sellers. Sellers can find out the amount of interest received by requesting a pay history or looking on their last payment receipt.