Why Independent Escrow?
"LICENSED VS. CONTROLLED"
All Escrow companies in California can be classified into two basic categories: "Licensed" or "Controlled". American National Escrow, Inc. is a "Licensed" company, which holds the strictest type of regulation.
A "Licensed" Escrow company is regulated by the Department of Business Oversight (DBO), where a "Controlled" Escrow company is a non-licensed business that can be owned by various entities. These types of companies have requirements and regulations that vary vastly.
At American National Escrow we take pride in the fact that we are different. As an Independent "Licensed" Escrow company we always have your best interest at hand. We are not tied or affiliated to a Title company, Bank, Lender or a Savings & Loans company.
"Licensed vs. Controlled" Differences in Regulations
The Department of Business Oversight (DBO) requires the following regulations in which a "Controlled" company does not.
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A certification program for all employees in the company, including fingerprinting and background checks by the Department of Justice.
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A requirement that a Manager/Escrow officer with at least 5 years of experience be on-site.
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Financial stability requirements, including a minimum of two audits per year.
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Prohibiting employment of convicted felons or anyone who has been disbarred from the Escrow industry.
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Membership with the Escrow agent's fidelity corporation, which provides a fidelity bond.
This should assure you that a "Licensed" Escrow company, like American National Escrow, is the best neutral third party for your Real Estate transaction!
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