Escrow Services
D & G Escrow CorporationFind BBB Accredited Businesses in Escrow Services.
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Important information
- Government Actions:Government Action: BBB reports on known government actions involving business’ marketplace conduct:DFPI vs D&G Escrow Corp
On or around November 19, 2021, the Department sent a bulletin, through GovDelivery.com, to D & G’s designated email address on file to remind D & G that its 2021 annual audit report was due on April 15, 2022. The Department also warned D & G that failure to file its 2021 annual audit report by the due date would subject it to a penalty under California Financial Code section 17408. In addition, D & G was cautioned that its escrow agent license may be revoked or suspended pursuant to California Financial Code section 17602.5 if it failed to file the required report by the due date. A delivery report generated from GovDelivery.com dated November 19, 2021, indicated the notification was delivered and received by D & G. D & G did not file its 2021 annual audit report on or before the due date of April 15, 2022.
On or around June 1, 2022, the Department issued a written demand to D & G to file its 2021 annual report within 10 days (2021 10-day demand). Again, the Department warned D & G of the potential penalty assessment and suspension or revocation of its escrow agent’s license for its failure to file the required 2021 annual audit report. The 2021 10-day demand was sent by email to D & G’s designated email address.
On or around June 1, 2022, D & G confirmed receipt of the 2021 10-day demand and requested an extension to file the 2021 annual audit report by the end of June 2022. Since D & G’s request for an extension came one and a half months after its due date the request was denied. To date, D & G has not filed its 2021 annual audit report, in violation of California Financial Code section 17406(a).
On or around November 17, 2022, the Department sent a bulletin, through GovDelivery.com, to D & G’s designated email address on file to remind D & G that its 2022 file its 2022 annual audit report was due on April 17, 2023. The Department also warned D & G that failure to file annual audit report by the due date would subject it to a penalty under California Financial Code section 17408. D & G was again cautioned that its escrow agent license may be revoked or suspended pursuant to California Financial Code section 17602.5 if it failed to file the required report by the due date. A delivery report generated from GovDelivery.com dated November 17, 2022, indicated the notification was delivered and received by D & G. D & G did not file its 2022 annual audit report on or before the due date of April 17, 2022.
On or around June 19, 2023, the Department issued a written demand to D & G to file its 2022 annual report within 10 days (2022 10-day demand). Again, the Department warned D & G of the potential penalty assessment and suspension or revocation of its escrow agent’s license for its failure to file the required 2022 annual audit report. The 2022 10-day demand was sent by email to D & G’s designated email address. On or around September 5. 2023, the Department again emailed a copy of the 2022 10-day demand to D & G’s designated email with Outlook delivery tracking, which indicated the email was delivered and received. To date, D & G has not filed its 2022 annual audit report, in violation of California Financial Code section 17406(a).
The Department sent three bulletins, on December 19, 2022, January 13, 2023, and February 3, 2023, to D & G’s designated email address to remind it to file its 2022 Escrow Annual Liability Report electronically by the filing deadline of February 15, 2023, via its Portal account registered with the Department. The bulletins also reminded D & G that its 2022 Escrow Annual Liability Report must be filed even if no business was conducted during the year and that failure to file the report would result in a penalty and grounds for license revocation. D & G did not file its 2022 Escrow Annual Liability Report by the deadline of February 15, 2023.
On or around December 11, 2023, the Commissioner served the Accusation on D & G Escrow Corporation at its principal place of business on file with the Department. The Department received no request for a hearing from D & G Escrow Corporation regarding the Notice of Intent to Issue Order Revoking Escrow Agent’s License within the statutory time to request a hearing.
Therefore, on January 4, 2024, the Commissioner revoked the escrow agent’s license of D & G Escrow Corporation. As of January 11, 2024, the Department has received no request for a hearing from D & G Escrow Corporation regarding the Accusation Imposing Penalties Pursuant to Financial Code Section 17408 and the statutory time to request a hearing has expired.
Business Details
- Local BBB:
- BBB of Los Angeles & Silicon Valley
- BBB File Opened:
- 7/12/2024
- Business Management:
- Jerry Bennett, CEO
Additional Contact Information
- Principal Contacts
- Jerry Bennett, CEO
- Customer Contacts
- Jerry Bennett, CEO
Licensing information
This business is in an industry that may require professional licensing, bonding or registration. BBB encourages you to check with the appropriate agency to be certain any requirements are currently being met.
BBB records show a license number of 316465 for this business, issued by Secretary of State-Corporations
Secretary of State-Corporations
1500 11th Street
Sacramento CA 95814
Additional Information
- Business Categories
- Escrow Services
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