COMPARE ESCROW COMPANIES
Learn why Escrow Innovations, Inc., a fully licensed and independent escrow under The Department of Financial Protection and Innovation (DFPI) , is the right escrow company to service your escrow.
| DFPI VS OTHER ESCROWS | LICENSED INDEPENDANT ESCROW COMPANIES | REAL ESTATE BROKER OWNED ESCROW DEPARTMENTS | TITLE COMPANY ESCROW DEPARTMENTS |
|---|---|---|---|
|
STATE REGULATOR |
DEPARTMENT OF CORPORATION |
DEPARTMENT OF REAL ESTATE |
DEPARTMENT OF INSURANCE |
|
BONDING REQUIRED |
YES |
NO |
NO |
|
MANAGER ESCROW EXPERIENCE REQUIREMENT |
5 YEARS OF EO EXPERIENCE OR 4 YEARS OF EO |
NO |
NO |
|
REGULATOR |
YES EVERY 12 to 24 MONTHS BY THE DOC (with no prior notice) |
NO D.R.E. AUDITORS GO OUT BY APPOINTMENT ONLY |
INTERNAL AUDIT AT EMPLOYER'S DISCRETION |
|
ANNUAL CPA AUDIT REQUIRED |
YES |
NO |
NO |
|
TRUST FUNDS INSURED |
YES $5,000,000.00 ESCROW AGENTSFIDELITY CORP (EAFC) COVERSALL LICENSED ESCROW CORPORATIONS |
YES D.R.E. RECOVERY FUND MAXIMUM $25,000.00 PER INDIVIDUAL COLLECTIBLE ONLY AFTER A CONVICTION FOR FRAUD |
NO |
|
FINANCIAL LIQUIDITY REQUIREMENTS |
YES |
NO |
NO |
|
ESCROW LICENSE REQUIRED |
YES |
NO |
NO |
|
ASSUMED IMPARTIAL AS A THIRD PARTY |
YES |
ESCROW OFFICER IS AN EMPLOYEE OF BROKER, WHO HAS INFLUENCE OVER THE TRANSACTION |
TITLE DEPARTMENTHAS ACCESS/CONTROL OF ESCROW MONEY AND PROCEDURES |
|
DEPARTMENT OF JUSTICE CRIMINAL BACKGROUND CHECK OF ALL EMPLOYEES, OWNERS, AND STOCKHOLDERS |
YES |
YES |
NO |
MOST IMPORTANT QUESTIONS TO ASK YOUR ESCROW COMPANY
Please reach us at if you cannot find an answer to your question.
Does your escrow company have a reputation for excellence, and outstanding communication?
At Escrow Innovations Inc., we are proud to be a respectable escrow company and have established a reputation for high quality escrow service . We understand escrow can be confusing, and we help you navigate through the escrow process with accuracy and effective communication.
Does your escrow company have an experienced staff and secure resources to handle all of your escrow needs?
With over 60 years of combined experience, our staff provides the knowledge to help guide you through the escrow process to ensure a smooth transaction. we offer a new technology platform and highly-experienced Escrow Officers to make your escrow experience exceptional! We provide clients and agents with a safe and secure escrow portal to keep everyone informed, every step of the way!
Is your escrow company DFPI approved?
Escrow Innovations, Inc. is fully-licensed by the Department of Financial Protection and Innovation (No. 96DBO-152737) which holds us to the highest standard of compliance and accounting practices. Independent companies have the covering and protection needed, not just for themselves but the buyer as well. Using a controlled escrow company does not guarantee reliable protection. So choose wisely!