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1.
What is a mortgage holding account?
Connection's mortgage holding account is used when you use direct deposit funds to pay your monthly mortgage payments. The funds are deposited directly into this savings account, where they earn dividends, and your mortgage payment is transferred automatically each month from the mortgage holding account.
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2.
What types of accounts can be drafted?
We typically draft from checking or savings accounts. However, we can draft from any account providing your banking authority allows it. Please refer to your banking authority.
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