Mainstream Escrow, Inc. is an independently owned California Corporation organized for the purpose of providing Escrow Services to the real estate and lending industries.
As required under the California Financial Code, Mainstream Escrow obtains the services of independent Certified Public Accountants to audit its records and operations on a yearly basis. These financial reports are submitted to the California Department of Corporations for its review and approval. In addition, the Department of Corporations performs its own internal audit of Mainstream Escrow’s records according to the laws and regulations established by the California Financial Code. As well, the Department of Corporations requires that all employees be fingerprinted and bonded.
As an independently owned escrow company, Mainstream Escrow also meets the requirements of the Escrow Agents Fidelity Corporation which, in conjunctions with the Department of Corporations, processes bonds and certificates for Mainstream’s employees to enable them to work in an independent company. The Escrow Agents Fidelity Corporation also requires that all employees be fingerprinted for its agency records and the employee’s prints and background check are reviewed and approved by the Department of Justice of the state of California. The strict requirements of the Department of Corporations and the Escrow Agents Fidelity Corporation are to protect consumers and lending agencies form any misuse of fund or documents held in trust by the escrow company.
In order to qualify for a license, an escrow office must be run by an escrow manager with five years’ experience as an escrow officer. This means that the professional manager overseeing your transaction has gained expertise honed by in-depth training. As well, a licensed escrow company must post substantial surety bonds and acquire fidelity insurance that is impossible for non-licensed Department of Corporations’ companies to purchase.
Mainstream Escrow is a member of