Key Takeaways
- Escrow disputes require strict neutrality—never disburse disputed funds without written consent from both parties or a court order.
- Regulatory penalties range from corrective actions to fines of $10,000-$500,000 and permanent license revocation.
- The most common enforcement triggers are escrow deficiencies, RESPA violations, premium remittance failures, and consumer complaints.
- Internal controls costing $20,000-$40,000 annually prevent violations that could result in penalties orders of magnitude larger.
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Test Your Knowledge
1.What are the most common triggers for regulatory enforcement against title companies?
2.What is the typical penalty range for escrow account violations?
3.What is the best defense in a regulatory examination?