Escrow Industry Update

License Types As of July 2019 As of July 2018
Main Office 63 56
Branch Office 11 11
Officers 112 113

Escrow Committee Openings

The Division of Consumer Services seeks individuals to fill two openings on the Escrow Committee. In order to be eligible to sit on this committee, you must be licensed under the Escrow Agent Registration Act, chapter 18.44 RCW. Members of the escrow committee are appointed by the Division Director and meet quarterly via webinar, or as needed, to discuss industry issues.

If you hold a license under chapter 18.44 RCW, you are encouraged to consider participating on this important committee.

Escrow Committee Application

Escrow Agent Quarterly Report Filing

The Escrow Agent quarterly report deadline is approaching. Quarterly reporting is done through Secure Access Washington (SAW). If you do not have a SAW account set up, do not wait until the reporting deadline to create one. There are several steps to setting up the account including designating a DFI approved SAW reporting person.

See Escrow Agent Quarterly Report Filing for more information.

Examination Summary

  • 4 exams completed in April
  • 4 exams completed in May
  • 2 exams completed in June

Average number of violations per exam: no findings

Composite Rating Number of Exams Previous Avg. Exam Cost Current Avg. Exam Cost Exam Cost change
1 6 $1,586.36 $1,602.27 $15.91
2 0 $1,922.44 N/A N/A
3 0 $2,536.46 N/A N/A
4 0 $4,187.50 N/A N/A
5 0 $19,343.75 N/A N/A
No Rating 4 N/A N/A N/A

The Department performed four limited scope examinations without assigning a rating. Three were low production examinations, and one was a request for examiner services to verify an escrow agent maintained compliance with a consent order.

Microsoft Windows 7

Microsoft announced that it plans to end support for Windows 7 effective January 14, 2020. This means Microsoft will no longer provide technical assistance and software updates for Windows 7 after that date. Continuing to run Windows 7 after January 2020 may put a device at enhanced risk of cybercrime including hacking and data breaches.

Microsoft strongly recommends Windows 7 users to move to Windows 10 before January 2020. Support for the internet browser Explorer on a Windows 7 device also ends January 14, 2020.

More information on support ending for Windows 7 is available from Microsoft.

Escrow Committee Meeting

The next Escrow Committee Meeting is scheduled for July 16 at 10am Pacific Time.

Information from the most recent Escrow Committee meeting, held April 23, can be found on the Escrow Committee Webpage.