What does “Regulated by the Department of Corporations” mean to you?

The stringent requirements of the California Department of Corporations and the mandatory membership in Escrow Agents’ Fidelity Corporation assure that every licensed escrow company has met the highest standards of the industry.

 Consumer protection regulations unique to licensed escrow companies include:

> A Certification Program for all Escrow Officers and staff in the company’s employ, including fingerprinting and background checks by the Department of Justice.
> A requirement that an Escrow Officer with at least 5 years experience is on-site.
· State mandated net worth and liquidity requirements, including a minimum of one audit per year.
>Prohibition of employment of convicted felons or anyone who has been barred from the escrow industry by the Department of Corporations.
> Membership with the Escrow Agents Fidelity Corporation indemnifies the member for up to million of fidelity bond protection, based statutory levels of coverage.

**Strange as it may seem given the escrow holder is intended to be a neutral 3rd party, state law does not prohibit the control of an escrow company by a party who has another interest in the transaction. Be sure to find out if your escrow company is affiliated with another party to your transaction and determine how that may affect you.