Why Choose First National
No two customers or transactions are alike. When it comes to private loan servicing, First National acts as a trusted, neutral third party that tracks payment and safeguards documents so you can focus on what matters most.
One of the largest private loan servicers in Alaska
More than a century of experience providing banking services
Competitive fee structure
More than 50 years of servicing private loans
Convenient payment & disbursement options
High standards of performance and customer service
Who Could Benefit From an Escrow Account?
- Any person wanting to owner-seller finance real property
- Private loan to friend, family or neighbor
- Selling an item and willing to accept payments over time
- Renting or leasing
- Sale of a mobile home
Save Time, Money and Gain Peace of Mind
Whether you are selling a boat in Kodiak or need help accepting your tenant’s rent checks in Nome, we are ready to meet your escrow needs. When you choose First National to service your escrow transaction, we can track repayment, disburse funds, and safekeep documents, negotiable items or deposited funds.
More Escrow Services
First National’s Escrow Servicing is ready to act as a trusted, neutral third party for your private contract.
- Owner or seller-financed real estate sales
- Buying or selling a business
- Deferred commissions
- Stocks and equipment sales
- Settlements, private note servicing/private contract servicing
- Vehicle, furniture or other sales
- Sale of liquor license
- Rentals, leases, homeowners or club collections
- Halibut charter or fishing quota transfers
Do You Have A Unique Transaction?
We can create a Milestone Escrow account customized to meet your escrow needs. Reach out to our team and we’ll help create the right solution for you or your business.
Frequently Asked Questions
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What documentation and forms does an individual need to establish an escrow account?
- Escrow Instructions
- Exhibit A – Disbursement
- Escrow Application (one per person)
- W9 (one per person)
- Copy of ID for each person
* Additional forms are required for Interest-Only Payments, Partial Releases, Payment or Interest Rate Changes, Deferred Commissions, or Security Assignments. Contact our escrow team for additional details.
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What documentation and forms does a business need to establish an escrow account?
- Escrow Instructions
- Exhibit A – Disbursement
- Escrow Certification of Beneficial Owners Application (one per business)
- W9 (one per business)
- Copy of Business License
- Copy of Certificate of Existence or Articles of Incorporation
- Copy of ID – for each beneficial owner and person opening account
* Additional forms are required for Interest-Only Payments, Partial Releases, Payment or Interest Rate Changes, Deferred Commissions, or Security Assignments. Contact our escrow team for additional details.
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What documentation and forms does a Trust, Estate of, Guardianship or Conservatorship need to establish an escrow account?
- Escrow Instructions
- Exhibit A – Disbursement
- Escrow Application
- One for trust and each trustee
- One for Estate and each personal rep
- One for Guardianship and each guardian
- One for Conservatorship and each conservator
- W9 (one per listed above)
- Copy of ID for each person
- Supporting Documents
- Certification of Trust
- Certified Death Certificate and court documentation
- Guardian or Conservator court documentation
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What fees will I be charged to establish an escrow account?
There is a setup and annual fee for each escrow account we establish. Reach out to one of our escrow experts for additional fee information about each account type:
Contact Us
Our escrow servicing team is ready to provide the right customized solution to meet your needs.
Escrow Forms
- Debit Authorization
- Debit Authorization Cancellation
- Payment Reminder Service
- Escrow Exhibit A Disbursement
- Preferred Communication Form
- Change of Address Request
Additional forms are required for Interest-Only Payments, Partial Releases, Payment or Interest Rate Changes, Deferred Commissions, or Security Assignments. Contact our escrow team for additional details
Disclosures
Escrow accounts are not deposit accounts and are not FDIC-insured.