Glen Oaks Escrow has successfully completed a Statement on Standards for Attestation Engagement No. 16 (SSAE 16) SOC 1& SOC 2 Type I audit.
With the ever-evolving regulations mandated by the Consumer Financial Protection Bureau (CFPB), Glen Oaks Escrow is proud to be the first independent escrow company in California to complete this certification to ensure our client’s non-public personal information (NPPI) is protected. This is a great accomplishment, which allows us to continue our top-notch service in a changing regulatory environment.
We have gone to great lengths to be an industry leader in CFPB compliance. We have taken the following measures to ensure the security of your client’s funds:
- Centralized banking procedure (wire fraud protection)
- Confirming wires off-site
- Positive pay
- Encrypted emails with non-public information (NPI)
- Cell phone, laptop and email security
- See our page on five questions to ask your escrow company or download the questions here.
- Consumer Financial Protection Bureau (CFPB)
- Real Estate Settlement Procedures Act (RESPA)
- American Land Title Association (ALTA 7) Pillars