Under Civil Code Section 2954(a), a voluntary escrow account may be set up "if, prior to the execution of the loan or sale agreement, the seller or lender has furnished to the purchaser or borrower a statement in writing, which may be set forth in the loan application, to the effect that the establishment of such an account shall not be required as a condition to the execution of the loan or sale agreement, and further, stating whether or not interest will be paid on the funds in such an account."  The California Impound Account Statement (CAIAS.MSC) satisfies the requirements of Section 2954(a) and is available upon request.  To add this form to your California predisclosure and/or closing packages, please contact Customer Service, at (800) 649-1362.

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