The deposit held in an An account that a mortgage servicer establishes on behalf of a borrower to pay taxes, insurance premiums, or other charges when they are due. Sometimes referred to as an “impound” or “reserve” account. to show that you’re committed to buying the home. The deposit usually will not be refunded to you after the seller accepts your A formal bid from the home buyer to the home seller to purchase a home. unless one of the sales contract contingencies is not fulfilled.