Escrow Agents' Fidelity Corporation (EAFC) is a non-profit mutual benefit corporation with a membership consisting of independent escrow companies licensed by the Department of Financial Protection and Innovation for the State of California. EAFC members are those licensees engaged in the business of receiving escrows as specified in subdivision (c) of Section 17312 of the Financial Code. EAFC indemnifies member escrow companies against loss of trust obligations caused by employee embezzlement, subject to the limitations in the Financial Code.
In addition, EAFC administers a Certificate Program on behalf of its members. Every employee of a member and every temporary or freelance individual working for a member is required to apply for a Certificate. Those individuals having a specified history of misconduct or criminal record for crimes involving dishonesty are denied the issuance of a Certificate are restricted from working for a member. EAFC is required to suspend or revoke an individual's Certificate based upon any subsequent misconduct, as specified in the Financial Code.
EAFC also administers a Member Audit Program. Section 17336 allows EAFC to periodically audit its members.
For additional information please refer to Chapter 2.5 of the Financial Code.
This web site is provided for the administrative assistance of EAFC and its members only. If you have questions concerning the Financial Code please consult your attorney. Only EAFC members may claim indemnity for the loss of trust obligations. The Financial Code forbids third party or consumer claims filed against EAFC. The Financial Code restricts EAFC and its members from making any statement or representation with regard to a guarantee of trust obligations.
Last updated 09/2021 | © 2023 ESCROW AGENTS' FIDELITY CORPORATION