Choosing the escrow company The seller's real estate agent usually chooses the escrow company. Make sure the escrow company is licensed and in good standing with the Department of Corporations by calling (866) 275-2677, or the Bureau of Real Estate at (213) 620-2072.
To set up your mortgage escrow account, the lender will calculate your annual tax and insurance payments, divide the amount by 12 and add the result to your monthly mortgage statement.