Escrow Industry Update
Licensing Updates
| License Types | As of November 2020 | As of November 2019 |
| Main Office | 57 | 61 |
| Branch Office | 10 | 9 |
| Officers | 100 | 108 |
Time to Get Ready to Renew
Be on the lookout for your annual Escrow Agent renewal notice. Given the current situation of working remotely, we are emailing, not mailing, renewal notices to Escrow Agents. If you have not received your renewal notice by November 1, be sure to reach out to the Department at CSLicensing@dfi.wa.gov so we can resend the notice.
Completing the renewal process is the same previous years. Before December 31, mail a check for the renewal fee and your renewal notice to the Department at the address listed on the renewal form. As a reminder, in order for an escrow agent to renew, the following information must be current:
- The DEO’s license for the main and/or branch office
- All quarterly reports filed with the Department
- E&O, Fidelity, and Surety bonds
If the information on the renewal notice is not correct, submit an Amendment Form to update your record. If your company is not going to renew, complete a Closure/Surrender Form.
Expedited Escrow Officer Applications for Military Personnel
DFI is expanding expedited application processing for military personnel to include escrow officers. To qualify, an applicant must be a military member, spouse, dependent, or veteran. If an escrow officer applicant qualifies for expedited processing, the individual notifies DFI of their status and provides minimal substantiating documentation, along with the escrow officer application. DFI gives priority review status to these applications and addresses them before other escrow officer applications.
DFI already provides expedited application processing for mortgage loan originator (MLO) applicants who are military personnel.
Escrow Committee Openings
The Department is currently seeking an individual to fill an opening on the Escrow Committee. You must be a licensee under RCW 18.44, the Escrow Agent Registration Act. Members of the escrow committee are appointed by the Department’s Director and meet quarterly via webinar to discuss industry issues. If you hold a license under RCW 18.44, you are encouraged to consider participating in this important committee.
Upcoming Events
December 31 - Escrow Agent Renewal Deadline