By definition, an escrow closing is a service offered by Hogan Land Title Company which is a contractual arrangement in which Hogan Land Title Company receives and disburses money or documents for the primary transacting parties, with the disbursement dependent on conditions agreed to by the transacting parties; or an account established by a broker for holding funds on behalf of the broker's principal or some other person until the consummation or termination of a transaction; or, a trust account held in the borrower's name to pay obligations such as property taxes and insurance premiums.
