Does the mortgage company get the interest on my tax escrow?

Question

All year they get portions and tuck them away in an escrowed account "for me". But do they get any interest that accrues on it or do they give it to me?

Answer 1

An escrow account is a non interest bearing account. So, no they do not receive interest on that amount.

Answer 2

Generally by law they are requried to put it in a "non interest bearing account". It usually specifies as such on your paperwork. I know mine did.

They are doing you a service by collecting it and paying it, so I'm not sure why you care. I'd rather pay each month and they can earn interest if they want to!