AZDFI.gov Arizona Department of Financial Institutions Official Website Arizona Department of Financial Institutions
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Escrow Agent

Arizona Adds Consumer Finance & Debt-Related Licenses to NMLS July 1, 2017

NMLS is now receiving new application and transition filings for the following Arizona Department of Financial Institutions licenses. New applicants and existing licensees are now able to submit these records through NMLS.

  • Advance Fee Loan Broker License
  • Escrow Agent License
  • Premium Finance License
  • Sales Finance License


Note: Companies holding these license types are encouraged to submit a license transition request through NMLS by filing a Company Form (MU1) and an Individual Form (MU2) for each of their control persons.  Additionally, for each branch holding these license types, companies are encouraged to complete and submit a Branch Form (MU3). Click here for more information.

This License is required of any person carrying on escrow transactions wherein escrow property is delivered to a person not otherwise having any right, title,or interest in connection with the sale, transfer, encumbrance, or lease of real or personal property to be delivered or redelivered upon the contingent happening or non-happening of a specific event or prescribed act.

 
Company Licenses Description Requirements Checklist
Escrow Agent License
This license will become available in NMLS starting July 1st, 2017. "Escrow" means any transaction in which any escrow property is delivered with or without transfer of legal or equitable title, or both, and irrespective of whether a debtor-creditor relationship is created, to a person not otherwise having any right, title or interest therein in connection with the sale, transfer, encumbrance or lease of real or personal property, to be delivered or redelivered by that person upon the contingent happening or non-happening of a specified event or performance or nonperformance of a prescribed act, when it is then to be delivered by such person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee or bailor, or any designated agent or employee of any of them. Escrow includes subdivision trusts and account servicing. Please review A.R.S. § 6-801
Branch Licenses Description Requirements Checklist
Escrow Agent Branch License
This license will become available in NMLS starting July 1st, 2017. "Escrow" means any transaction in which any escrow property is delivered with or without transfer of legal or equitable title, or both, and irrespective of whether a debtor-creditor relationship is created, to a person not otherwise having any right, title or interest therein in connection with the sale, transfer, encumbrance or lease of real or personal property, to be delivered or redelivered by that person upon the contingent happening or non-happening of a specified event or performance or nonperformance of a prescribed act, when it is then to be delivered by such person to a grantee, grantor, promisee, promisor, obligee, obligor, bailee or bailor, or any designated agent or employee of any of them. Escrow includes subdivision trusts and account servicing. Please review A.R.S. § 6-801

 

If you are not currently transitioning to the NMLS system, please click here.