Escrow Services
Builders Disbursements, Inc.Find BBB Accredited Businesses in Escrow Services.
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Government Actions
The following describes a government action that has been resolved by either a settlement or a decision by a court or administrative agency. If the matter is being appealed, it will be noted below.
February 22, 2019 The following describes a suspension order that has been formally brought by a government agency. Jan Lynn Owen of the Department of Business Oversight Commissioner of Business Oversight, alleges and charges as follows:
On or around January 25, 2019 the Department served BDI with the Accusation via certified mail at its principal place of business on file with the Department located at 601 East Glenoaks Boulevard, Suite 101, Glendale, California 91207. BDI has not requested an administrative hearing to challenge the allegations contained in the Accusation, and the statutory time period to request an administrative hearing has expired.
The joint control agent's license of Builders Disbursements, Inc. be suspended for the greater period of: (1) six months, to commence on February 22, 2019, and continue through close of business on August 22, 2019; or (2) until Builders Disbursements, Inc. has submitted the following: (i) its 2017 annual audit report that was due on April 16, 2018; (ii) financial statements, including the general account bank statement and reconciliation, for the periods ending on August 31, 2017 and January 31, 2018; and (iii) financial statements, including the general account bank statement and reconciliation, for the last four quarters immediately preceding the date of submission, including but not limited to March, June, September, and December 2018.
During the period of suspension, Builders Disbursements, Inc. shall not accept any new escrow or joint control business, but may continue to process prior and open escrows.
To access the full Department of Business Oversight press release, please visit: http://www.dbo.ca.gov/ENF/pdf/2019/Builders-Disbursements,Inc.-Order-Suspending-2-22-19.pdf
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