California Occupational License
Escrow Agent
Department of Business Oversight
Division of Corporations
Mortgage Lending Unit
Licensing Agency Contact Information:
Address: | 320 West Fourth Street, Suite 750 Los Angeles, CA 90013 |
Phone Number: | (866) 275-2677
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Fax Number: | (213) 576-7574
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E-mail Address: | Ask.DBO@dbo.ca.gov |
Internet Address: | http://www.dbo.ca.gov |
License Requirements, Fees, and Examination Information:
Fees: Application: $625 for the first office, $425 for each additional office or location, along with an investigation fee of $100 for each location; Fingerprint processing: $52 per person, $10 for Livescan fingerprint processing. The fees are non-refundable.
Examination: NA
Examination Frequency: Each escrow agent is subject to a regulatory examination by the Department at least once every 4 years, and the escrow agent is responsible for the cost of the regulatory examination.
Exam Locations: Regulatory examination at licensed location.
Experience Requirement: Manager with 5 years escrow or joint control agent experience for main office, 4 years experience for branch location.
An Internet escrow agent engaged in the business of escrows involving personal property is required to have a manager with knowledge and understanding of the Escrow Law and rules promulgated thereunder and knowledge of accounting.
Average Time to Process Application: 60 days.
Renewal Period: Annual license fee of $2,800 per location.
Special License Requirements: 1. Membership in Escrow Agents’ Fidelity Corporation (EAFC).
Authority: California Financial Code, Division 6, commencing with Section 17000. California Code of Regulations, Title 10, Subchapter 9, commencing with Section 1700 (10 C.C.R. § 1700, et seq.).
Occupation Title | SOC Code |
Loan Officers | 132072 |