| License Types | As of October 2023 | As of October 2022 |
|---|---|---|
| Main Office | 43 | 46 |
| Branch Office | 6 | 5 |
| Officers | 75 | 79 |
Time to get ready to renew
Watch your mailbox for your annual Escrow Agent renewal notice. These notices were mailed Friday, October 27 and should arrive shortly. If you don’t receive your renewal notice by November 15, email the Department at CSLicensing@dfi.wa.gov so we can resend the notice.
Completing the renewal process is the same as in 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, 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 will not renew, complete a Closure/Surrender Form.
Reporting requirements for ownership changes
As you make changes or updates to your business, don’t forget to notify the Department. Escrow licensees have reporting requirements that are outlined in the escrow rules. WAC 208-680-265 lists the reporting timelines and what events must be reported.
In recent months, several Escrow Agent licensees changed ownership without notifying the Department. Depending on the specific ownership changes, additional items may be required. Specifically, WAC 208-680-125 prohibits the transferring of an Escrow Agent or Escrow Officer license.
All or substantially all of the assets of an Escrow Agent may be transferred, but only to another licensed Escrow Agent, and must meet requirements in the rule regarding reporting to the Department.
Escrow committee openings
The Department is seeking two individuals to fill openings on the Escrow Committee.
You must be a licensee under RCW 18.44, the Escrow Agent Registration Act. The Department’s Director appoints members of the escrow committee and meets 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.
October Escrow Committee meeting
You can find information from the October Escrow Committee meeting on the Escrow Committee webpage.
Upcoming Events
December 31: Escrow Agent Renewal Deadline