Why Use Green Escrow?
Independent Escrow Companies are held to a higher standard than other escrow operators.
The more experience, the better the escrow!
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| Independent Escrow Companies | Real Estate Broker Owned Escrow Departments | Title Company Escrow Departments | Bank Escrow Departments | Savings & Loan Escrow Departments | |
| Assumed Impartial as a Third Party | Yes | No (Escrow officer is an employee of Broker, who has influence over the transaction) | No (Title Dept. 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) |
| Escrow License Required | Yes | No | No | No | No |
| Trust Funds Insured | Yes | No | No | No | |
| Bonding Required | Yes | No | No | No | No |
| Manager Escrow Experience Requirements | 5 yrs E.O. Experience or 4 yrs E.O. + Escrow Schooling | No | No | No | No |
| Dept. of Justice Investigation of all employees, including photos and fingerprints | Yes | No | No | No | No |
| Financial Liability Requirements | Yes | No | No | No | No |
| Regulatory Audits | Yes (Every 12-24 Months by the D.O.C. without any prior notice | No (DRE go out by appointment only) | Internal audits at employer’s discretion | ||
| Annual CPA Audit Required | Yes | No | No | No | No |
| State Regulators | Department of Corporations (DOC) | Department of Real Estate (DRE) | Department of Insurance (DOI | Federal Deposit Insurance Corporation (FDIC) |
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