Number of Licensees
Number of licensees as of February 2025.
| License Types | As of February 2025 | As of February 2024 |
|---|---|---|
| Main Office | 34 | 37 |
| Branch Office | 4 | 5 |
| Officers | 66 | 75 |
Escrow Committee Meeting
Mark your calendar to attend the next Escrow Committee meeting. There will be a cybersecurity training regarding wire transfer fraud, in addition to the updates from licensing, examinations, and enforcement. The meeting is Wednesday, February 19 at 9 am (Pacific).
For more information about that meeting or to view materials from previous meetings, visit the Escrow Committee webpage.
Escrow Committee Openings
The Department is currently seeking two individuals to fill openings 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.
Escrow Agent Renewal Recap
A note of gratitude to Escrow Agent licensees for their diligence in completing the renewal process. A total of 36 Escrow companies and 4 branch locations were eligible for renewal. As of the end of 2024, 33 of the companies completed the renewal process along with all the 4 branch locations.
Fidelity Insurance
Escrow Agents are required to maintain fidelity coverage that complies with RCW 18.44 at all times. The following items are also published on the Department’s website at Escrow Agents and Officers Frequently Asked Questions:
Where can I get a compliant policy?
The Department will accept policies from insurers that are able to write language that complies with RCW 18.44. The Department cannot recommend any insurer over another, however there are a small number of companies that the Department has been working with to arrive at mutually acceptable language. Those companies are Lloyds, Travelers, and Markel (for an excess coverage policy). The Department will also accept a combination of policies that together achieve compliance with the requirements.
Can a parent company’s fidelity policy be amended to cover the applicant?
No. Fidelity insurance must be in the applicant name only – “umbrella policies” are not acceptable.
How much fidelity coverage am I obligated to maintain?
A fidelity bond providing coverage in the aggregate amount of one million dollars with a deductible no greater than ten thousand dollars covering each corporate officer, partner, escrow officer, and employee of the applicant engaged in escrow transactions. See RCW 18.44.201