Comparison oVERVIEW
Cornerstone Escrow vs. Other Escrow Providers
  Cornerstone Escrow Real Estate
Broker-Owned Escrow
Departments
Title Company
Escrow
Departments
Bank Escrow
Departments
Savings & Loan
Escrow
Departments
State Regulator Dept. of Corporations D.O.C. will not license these escrow operations
Dept. of Real Estate Dept. of Insurance Dept. of Banking Dept. of S & L's
Bonding Required YES NO NO NO NO
Manager Escrow
Experience
Requirements
5 Years E.O. Experience
or
4 Years E.O. + Escrow School
NO NO NO NO
Regulator Audits YES
(Every 12 Months by the D.O.C.
without any prior notice)
Internal audits at employer's discretion
NO
D.R.E. Audits by
advance appointment
NO NO NO
Annual CPA Audit
Required
YES NO NO NO NO
Fidelity Bond YES
Escrow Agents Fidelity Corp.*
YES
D.R.E. Recovery Fund:
Max $20,000 per
individual
NO NO NO
Escrow Officer
Certification
Available to any individual who is a member of the California Escrow Association
Net Worth
Requirements
YES NO NO NO NO
Financial Liquidity
Requirements
YES NO NO NO NO
Escrow License
Required
YES NO NO NO NO
Assumed
Impartial
as a Third Party
YES Escrow Officer is an
employee of broker, who
has influence over the
transaction
Title Department
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
Dept. of Justice
Investigations of
ALL Employees,
including photos &
fingerprints
YES NO NO NO NO
* "a private corporation and not an agency or other instrumentality of the State of California."  (S17346 Financial Code)
THE ABOVE INFORMATION RELATES ONLY TO THE HANDLING OF ESCROWS TRUST FUNDS AND ESCROW PERSONNEL.
 



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