Number of licenses:
|License Types||Count as of
September 30, 2011
|Count as of
September 30, 2010
|Escrow Companies-Main Office||100||126|
|Escrow Companies-Branch Office||14||16|
Escrow Agent company renewals are coming up! Keep your eye out for a renewal notice by mid November. However, if for any reason you donít receive your renewal notice, you are still required to submit your renewal fee by December 31, 2011. Failure to submit the fee and any required accompanying documentation by December 31, 2011 will result in the interruption of your business and a late fee.
Below is a reminder of some of the key items that must be current in order for DFI to complete your renewal.
DFI does not currently have a form to represent the termination of an Escrow Officer (EO) from a company. However, companies are required to notify DFI within three business days of termination of a licensed escrow officer's employment. See RCW 18.44.101 http://apps.leg.wa.gov/rcw/default.aspx?cite=18.44&full=true#18.44.101.
In addition, per WAC 208-680-265 (e), "If the escrow officer was terminated for dishonesty or financial misconduct involving the business, the escrow agent must provide the department with that information." http://apps.leg.wa.gov/wac/default.aspx?cite=208-680&full=true#208-680-265. If you need to report the termination of an escrow officer, submit the following information in writing:
None at this time.
See 2011 Enforcement Actions at www.dfi.wa.gov/cs/adminactions_2011.htm