Escrow Comparison MARINERS ESCROW CORPORATION vs OTHER ESCROW PROVIDERS     MARINERS ESCROW CORPORATION (Independent Escrow Companies) Real Estate Broker-Owned Escrow Departments Title Company Escrow Departments Bank Escrow Departments Savings & Loan Escrow Departments State Regulator Dept. of Corporations D.O.C. will not licence these escrow operations Dept. of Real Estate Dept. of Insurance Dept. of Banking Dept. of S & L's Bonding Required YES NO NO NO NO Manager Escrow Experience Requirements 5 Years E.O. Experience or 4 Years E.O. + Escrow School NO NO NO NO Regulator Audits YES (Every 12 Months by the D.O.C. without any prior notice) Internal audits at employer's discretion NO D.R.E. Audits by advance appointment NO NO NO Annual CPA Audit Required YES NO NO NO NO Fidelity Bond YES Escrow Agents Fidelity Corp.* YES D.R.E. Recovery Fund: Max $20,000 per individual NO NO NO Escrow Officer Certification Available to any individual who is a member of the California Escrow Association Net Worth Requirements YES NO NO NO NO Financial Liquidity Requirements YES NO NO NO NO Escrow License Required YES NO NO NO NO Assumed Impartial as a Third Party YES Escrow Officer is an employee of broker, who has influence over the transaction Title Department 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 Dept. of Justice Investigations of ALL Employees, including photos & fingerprints YES NO NO NO NO   * "a private corporation and not an agency or other instrumentality of the State of California." (S17346 Financial Code) THE ABOVE INFORMATION RELATES ONLY TO THE HANDLING OF ESCROWS TRUST FUNDS AND ESCROW PERSONNEL. NOT ALL ESCROW COMPANIES ARE CREATED EQUAL