Zo Escrow is a non-independent broker escrow.
In order to perform escrow services in California, the Escrow Law states that an escrow must be a corporation, in the business of receiving escrows for deposit or delivery and be licensed by the California Corporations Commissioner. However, there are exemptions provided in the Escrow Law which allow other entities and persons not licensed by the Department of Business Oversight (“DBO”) to perform escrow services.
Zo Escrow is exempt as a real estate broker licensed by the California Bureau of Real Estate performing acts in the course of or incidental to a real estate transaction in which the broker is an agent or a party to the transaction and in which the broker is performing an act for which a real estate license is required.
In the terminology of the escrow industry, all escrow agents performing escrow services in California are either “licensed” or “controlled” escrow companies.
A “controlled” escrow, which may be known as a “nonindependent” escrow, is not licensed by the DBO. A controlled escrow could be owned and operated by a persons or entity, such as a real estate broker or title insurance company.
Royal CP Funding is the preferred lender of Shinn Real Estate Group. Having been in the mortgage industry for over 10 years, Royal CP Funding possesses the experience and quality of service that you can depend on to close your real estate transaction smoothly.