Escrow Institute of California releases agent vetting white paper

The Escrow Institute of California issues their white paper on the topic of title agent vetting. The paper outlines the group’s position against third-party vetting companies like Secure Settlements, Inc., arguing that escrow agents in California are subject to more than sufficient regulatory oversight already.

Escrow Institute of California
Secure Settlements is a third party vetting company that has “popped up” due to what  they feel is an unintended consequence from a recent Consumer Finance Protection Bureau (CFPB) bulletin.  Click here to view this Bulletin 2012-03 in it’s entirety.

The Consumer Financial Protection Bureau (CFPB) expects supervised banks and nonbanks to oversee their business relationships with service providers in a manner that ensures compliance with Federal consumer Financial law, which is designed to protect the interests of consumers and avoid consumer harm.

Click here for NAILTA’s white paper.