This is a monthly amount the lender collects from you in addition to your principal interest.  It is one-twelfth (1/12) of the annual property taxes and homeowners insurance premium, and sometimes, mortgage insurance (if applicable).  So, if your taxes and insurance are $2,400 per year, then the lender would collect $200 per month for escrow to make sure they can pay the taxes and insurance when they become due each year.