How does Pathpoint handle escrow payments?
Pathpoint and Ascend cannot accept direct payments from escrow accounts via checks or wire transfers. Instead, agents can make payments with escrow funds depending on if they are signed up for PathPay Agency or PathPay Insured.
PathPay Agency
Agents can make the payment to Pathpoint via Ascend and then be reimbursed by the mortgage company.
The agent pays Pathpoint using the Ascend payment link.
The mortgage company reimburses the agent for the payment.
PathPay Insured
The insured can handle the payment after receiving funds from the mortgage company.
The mortgage company sends the payment directly to the insured.
The insured uses the Ascend payment link to pay Pathpoint.
Important: Insureds have three business days to submit payment once subjectivities are approved.
In summary, Pathpoint and Ascend only accept wire, ACH, and credit card payments. By using these steps, agents and insureds can make payments on time and keep insurance policies active without interruptions.
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