EAFC MEMBERSHIP INFORMATION

Financial Code Section 17312 of the Financial code provides that all independently licensed escrow companies who are engaged in the business of receiving escrows as specified in subdivision (c) shall participate as a member in Fidelity Corporation. Specifically, the types of escrow transactions requiring membership in EAFC are:

1. Real property escrows.
2. Bulk sale escrows.
3. Fund or joint control escrows.
4. Mobile home escrows.
5. Reservation deposits.
6. Hypothecation of promissory notes secured by deeds of trust.

Indemnity coverage for those types of escrow transactions not specified in Financial Code Section 17312(c) shall be provided by licensees in accordance with Section 17203.1 of the financial code.

EAFC MEMBERSHIP APPLICATION CHECKLIST

EAFC requires that the applicant member provide EAFC with a copy of its application to the Department of Business Oversight along with the items detailed in the EAFC APPLICATION CHECKLIST.

Application Checklist (click here)

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.

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