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Blackmore Escrow Real Estate Broker-Owned Escrow Departments Title Company Escrow Departments Bank Escrow Departments Savings & Loans Escrow Departments
State Regulator Department of Business Oversight Department of Real Estate* Department of Insurance* Department of Banking* Department of Savings & Loans*
Bonding Required YES NO NO NO NO
Manager Escrow Experience Requirements YES 5 years E.O. experience or 4 years E.O. plus Escrow School NONE NONE NONE NONE
Unannounced Regulator Audits YES (every 12 months) NO DRE Auditors go out by appointment ONLY NO Internatl audits occur at employer’s discretion
Annual CPA Audit Required YES NO NO NO NO
Trust Funds Inusrance YES $5,000,000 by Escrow Agents Fidelity Corporation YES DRE Recovery Fund Maximum $20,000 per individual NO NO NO
Escrow Officer Certification Available to any individual who is a member of the California Escrow Association
Net Worth Requirements YES NO NO NO NO
Financial Liquidity Requirements YES NO NO NO NO
Escrow License Required YES NO NO NO NO
Assumed Impartial as a Third Party YES NO Escrow Offices is an employee of Broker, who has influence over the transaction NO Title Officer has access/control of escrow money and proecedures YES Unless financing is provided by the bank YES Unless financing is provided by the S & L
Department of Justice Investigations of all Employees (including photos and fingerprints) YES NO NO NO NO

Not all escrow companies are created equal !
* Denotes the Department of Business Oversight will not licence these escrow departments