dfpi-2024-0142
Sunbelt Escrow Holdings — license revocation
DFPI revoked escrow agent license after audit found $3.42M in client trust funds unaccounted for across 41 closings.
- Party
- Sunbelt Escrow Holdings, Inc.
- County
- Los Angeles, CA
- Year
- 2024
- Amount at issue
- $3.42M
- Authority
- California DFPI
- Status
- Active enforcement
What happened
Routine DFPI examination in March 2024 flagged trust account reconciliations missing for nine consecutive months.
Forensic accountant retained by the receiver traced $1.8M in transfers to two affiliated title insurance agencies.
License revoked August 2024. Receiver appointed to wind down remaining 41 open files.
Primary sources
- DFPI Final OrderDFPI File No. 963-2401
- Receivership petitionLASC Case No. 24STCP02841