Why Use Green Escrow?

Independent Escrow Companies are held to a higher standard than other escrow operators.

The more experience, the better the escrow!

  Independent Escrow Companies Real Estate Broker
Owned Escrow Departments
Title Company Escrow Departments Bank Escrow Departments Savings & Loan Escrow Departments
Assumed Impartial
as a Third Party
Yes No
(Escrow officer is an employee of Broker, who has influence over the transaction)
No
(Title Dept. has access/control of escrow money and procedures)
Yes
(Unless financing is provided by the bank)
Yes
(Unless financing is provided by the S&L)
Escrow License
Required
Yes No No No No
Trust Funds
Insured
Yes
($5,000,000 Escrow Agents Fidelity Corp. [E.A.F.C.] covers all Licensed Escrow Corporations
Yes
(D.R.E. Recovery Funds: max $20,000 per individual)
No No No
Bonding Required Yes No No No No
Manager Escrow
Experience
Requirements
5 yrs E.O. Experience or 4 yrs E.O. + Escrow Schooling No No No No
Dept. of Justice
Investigation of
all employees,
including photos
and fingerprints
Yes No No No No
Financial Liability
Requirements
Yes No No No No
Regulatory Audits Yes
(Every 12-24 Months by the D.O.C. without any prior notice)
No
(DRE go out by appointment only)
Internal audits at employer’s discretion
Annual CPA Audit
Required
Yes No No No No
State Regulators Department of Corporations (DOC) Department of Real Estate (DRE) Department of Insurance (DOI) Federal Deposit Insurance Corporation (FDIC)
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