How To Become An Escrow Officer

Laws about the escrow officer license can be found in the texas insurance code section 2652 and the title basic manual section vi l 2.

How to become an escrow officer. Learning necessary skills 1. The fidelity bond must provide fidelity coverage on each officer director trustee and employee of not less than 125 000 for the purpose of indemnifying the escrow agent or the escrow agent s successor in interest for loss of trust obligations held by the escrow agent as a result of fraudulent or dishonest abstraction misappropriation. Typically reports to a manager or head of a unit department.

Becoming an escrow officer takes knowledge in real estate and financial practices. An escrow officer also known as an escrow manager or an escrow agent is a professional who acts as a third party during real estate closings and transactions. Additionally escrow officer requires a bachelor s degree.

Education requirements to become an escrow officer. Typically you also must apply for a license with your state. After accumulating some experience in the escrow field and becoming licensed individuals can begin looking for jobs as escrow agents.

The escrow officer works on projects matters of limited complexity in a support role. Talk to working escrow officers. A candidate with a bachelor s degree in the field and knowledge of all concepts procedures and practices is an alternative option to becoming an escrow officer in the commercial field.

Escrow officers don t work for the buyer or the seller of the property however. Lamont corprew cpa a washington d c. To become an escrow officer you must demonstrate knowledge of your state s title insurance law and the skills necessary to fulfill that role.

A provisional permit is not offered for an escrow officer license. An emergency license is not offered for an escrow officer license. Eafc is organized for the purpose of indemnifying the members against losses sustained as a result of fraud theft or embezzlement.