About

Important information

• Government Actions:

  Government Action: BBB reports on known government actions involving business’ marketplace conduct:

  DFPI vs Capital Escrow Inc.
  On or about April 23, 2019, Respondent submitted a request to surrender its escrow agent’s license to the Department. In May and June of 2019, the Department notified Respondent about the surrender process requirements as required under Financial Code section 17600, subdivision (b), including, but not limited to, submitting its closing audit, properly reconciling its trust accounts and disbursing the trust funds or escheating them to the state, and returning the license and all other indicia of licensure to the Commissioner.     
  
  
  
  Respondent failed to submit its closing audit report and failed to produce all the necessary information as required. On October 21, 2019, the Department sent a letter notifying Respondent that its closing audit report, and other reports and information required. On October 21, 2019, the Department sent a letter notifying Respondent that its closing audit report, and other reports and information required. 
  
  
  
  The Commissioner never accepted Respondent’s surrender request due to its failure to submit the necessary reports and information and its failure to take the necessary actions. On December 29, 2020, the Department was notified that Respondent’s surety bond would be cancelled effective February 1, 2021. Respondent failed to renew its surety bond. 
  
  
  
  On November 22, 2024, the Commissioner issued a Notice of Intention to revoke Respondent’s Escrow Agent’s License. On November 27, 2024 and December 12, 2024, Respondent was served with the Accusation, Notice of Intention, Statement to Respondent, Notice of Defense. 
  
  
  
  Respondent timely filed its Notice of Defense, and this matter is currently set for hearing on May 6, 2025, before the Office of Administrative Hearings.

  Click here for details