If you do have a choice; I would recommend getting the IMPOUNDS, it is a worthwhile conveniece and missing a tax payment or insurance payment can be serious.
If you are organized to the point of being anal; you probably can handle it. But, historically, most people can let it get out of hand.
Good luck and may God bless
You're going to be busy new homeowners and the convenience of having the lender be responsible is hard to beat. Money reserved for taxes and insurance needs to be put into a savings account that is government insured, and those are paying what, 1 percent? in interest. So the opportunity cost of the money out of your hands is negligible, but the failure to pay taxes or insurance on time can be very costly indeed.