Why Independent Escrow?
You can feel more secure with an independent escrow company. Unlike banks, title companies and brokerages, as an independent firm, we 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 have been approved through the Department of Justice. Additionally, with less bureaucracy, our independent escrow company more easily achieves greater efficiency and productivity.
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Independent
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Title Company
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Broker Owned
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Bank or Saving & Loan
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Management
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5 Year experience as Escrow Officer
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No
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No
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No
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Licensed by Department of Corporations
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Yes
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No, Regulated by the Department of Insurance
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No, Licensed Through the Real Estate Broker by the DRE
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No, Regulated by the Department of Financial Institution
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Annual audit with no prior notice
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Yes
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No
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No
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No
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Annual CPA audit
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Yes
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No
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No
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No
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Employees approved by DOC and Department of Justice
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Yes
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No
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No
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No
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Bonding requirement
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Yes
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No
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No
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No
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Req. for financial liquidity
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Yes
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No
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No
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No
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Trust fund insurance
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Yes
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No
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No
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No
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