California Escrow License Bond| AmeriPro Surety Bonds | 844-589-9732
California Escrow License
California Escrow Agents are regulated by the California Department of Business Oversight.
There are quite a number of stringent criteria required to become a licensed CA escrow agent. It is also important to note that escrow agencies which operate via internet access outside of California but which conduct business in California are not exempt from these requirements.
Some requirements to get a California Escrow Agent License
(some of these are the requirements to open an escrow agency, not to work as an escrow agent)
The application fee..
Each office has an initial application fee of $625, followed by $425 for each additional office. There is also a $100 investigation fee for every location.
Application fees are non-refundable.
Depending on the nature of business conducted, an escrow agent may be required to be a member of the Escrow Agents Fidelity Corporation (EAFC).
A background check:
All employees of an escrow agency, including stockholders, officers, directors, and managers, and escrow agents must submit to a background check.
The background check will be conducted by the Department of Justice (DOJ). All employees of an escrow agency must have their fingerprints on filed with the agency.
The fee for clearance is $10. This does not include fees charged by the DOJ or live scan operator.
Besides these requirements, there are others as well which can be found by visiting the Department’s website.
Escrow Agent Surety Bond
All California escrow agents must have a surety bond on file with the California Department of Business Oversight.
The escrow agent bond amount is a minimum of $25,000; however, the surety bond can be either $35,000 or $50,000.
The amount of the surety bond will be determined by the capitalization of the escrow agency.
Cost of a California Escrow Agent Bond
AmeriPro Surety Bonds will work with you to get the best pricing available which is tailored to your situation.
The cost of the surety bond will depend on several important factors:
- The amount of the surety bond: Is the surety bond for $25,000, $35,000, or $50,000? This will, in part, determine the bond’s premium;
- The duration of the escrow surety bond: California escrow agent bonds can be issued for 1 to 3 years. While applicants will pay more upfront for a 2 or 3-year bond, they will save considerably over renewing their bond each year;
- The applicant’s credit score. The premium of the California escrow agent bond will be determined in large part by the applicant’s credit score. Those with good credit scores may pay between 1-5% of the bond premium.
In this last regard, we encourage all applicants to not hesitant in speaking with AmeriPro Surety Bonds regardless of your current credit standing. We are professionals and you will always be treated with the respect and dignity that you deserve.
AmeriPro Surety Bonds
AmeriPro Surety Bonds is a surety bond-only agency.
We provide contract, court, commercial, and fiduciary surety bonds for clients in all 50 states.
Call us today at: 844-589-9732