Friday, June 18, 2010

Why Independent?

You can feel more secure with an independent escrow company. Unlike banks, title companies and brokerages, an independent firm must comply with stricter operational and CPA auditing, bonding requirements, financial liquidity requirements and trust fund insurance guidelines.

We are licensed by the Department of Corporations for the State of California. All of Escrow of the West’s staff has been approved through the Department of Justice. Additionally, with less bureaucracy, our independent escrow company more easily achieves greater efficiency and productivity.


Independent Title Company Broker Owned Bank or Saving & Loan
Management 5 Year experience as Escrow Officer No No No
Licensed By Department of Corporations Yes No, Regulated by the Department of Insurance. No, Licensed Through the Real Estate Broker by the DRE No, Regulated by the Department of Financial Institution
Annual Audit With no prior notice Yes No No No
Annual CPA Audit Yes No No No
Employees approved by DOC and department of Justice Yes No No No
Bonding Requirement Yes No No No
Req. for Financial Liquidity Yes No No No
Trust Fund Insurance Yes No No No

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