You have argued that the funds in these accounts should be insured to the purchasers of condominium units ("Purchasers"). FDIC deposit insurance covers trust accounts under two separate ownership categories: Revocable Trust and Irrevocable Trust. To get the full benefit of FDIC insurance, the escrow account needs to be labeled as such in the account name. An "escrow" account is usually set up when you get a mortgage and it is maintained with money from your loan payment. A revocable trust account is a deposit account owned by one or more people that designates one or more beneficiaries who will receive the deposits upon the death of the owner (s). Words to the effect of "Escrow Account" or "Trust Account" should be somewhere on the check from a title company, usually following the company name. FDIC Consumer News. This is done when the title company establishes the account with the bank. You have requested an opinion about the insurance coverage of escrow accounts maintained by a title insurance company ("Title Insurance Company") at an FDIC-insured depository institution. Revocable Trusts. Your mortgage servicer will then use that money to pay your real estate taxes, homeowners (hazard) insurance and other costs that you have agreed to.



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