Texas Escrow Officer Schedule Bond Overview
- Purpose: To protect customers if an escrow officer commits malpractice
- Who Needs It: Licensed escrow agencies and title companies appointing escrow officers
- Regulating Body: The Department of Insurance Agent and Adjuster Licensing
- Bond Amount: $5,000–$50,000
- Minimum Price: $100 or 0.5%
What Is a Texas Escrow Officer Schedule Bond?
A Texas escrow officer schedule bond is a type of surety bond required for title insurance companies and escrow agents appointing escrow officers.
An escrow officer is a licensed third party who:
- Manages real estate closings
- Holds earnest money and legal documents
- Ensures all conditions of a property sale are met
This bond protects the state and clients from losses caused by fraud, dishonesty, forgery, theft, embezzlement, or willful misapplication of escrow funds.
Escrow Officer Bond Coverage Requirements
Texas residents need $5,000 in surety bond coverage per employed escrow officer. Residents of states adjacent to Texas need $10,000 bond coverage per escrow officer. If an attorney or title agency employs multiple escrow officers, the maximum bond amount is $50,000.
How Much Do Escrow Officer Schedule Bonds Cost?
Texas escrow officer bond prices start at just $100, but exact rates vary based on the coverage amount. Bond amounts up to $25,000 cost $10 per $1,000.
Escrow bonds greater than $25,000 start at 0.5% of the bond amount and require a soft credit check to determine pricing.
| Bond Coverage | Premium Cost |
|---|---|
| $5,000–$10,000 | $100 |
| $15,000 | $150 |
| $20,000 | $200 |
| $25,000 | $250 |
| $30,000–$50,000 | 0.5–10% of the bond amount |
The prices above reflect one-year term pricing. You can also save 25% by selecting a multi-year term discount. Select the bond coverage you need below to buy online or request a free quote.
How Does a Texas Escrow Officer Schedule Bond Work?
This type of surety bond creates a legally-binding contract between you and two other parties.
| Bond Party | Description |
|---|---|
| 1) Principal | The bonded escrow officer |
| 2) Obligee | The Department of Insurance Agent and Adjuster Licensing |
| 3) Surety | The issuing surety provider |
As the bonded principal, you are financially liable for upholding all regulations under the Texas Title Insurance Act. If you don’t, the DOI or harmed clients can file bond claims to get reimbursed for damages.
How Do I Get an Escrow Officer Schedule Bond in Texas?
SuretyBonds.com offers instant Texas escrow officer license bond delivery 24/7. Complete the quick checkout form and buy now to receive your escrow license bond in minutes by email.
Need greater than $25,000 coverage? Submit a quote request and we’ll get back to you in one business day or less.
How Do I Renew My Bond?
The bond term will be 1–3 years based on your selection at checkout. You’ll receive email and text reminders during the renewal period. Just pay the renewal premium to extend your bond for another term.
How to Become an Escrow Officer in Texas
Follow these steps to apply for an escrow officer license in Texas:
- Request a fingerprint service code and instructions through the TDI online portal
- Submit fingerprints through Identogo for a background check.
- Send a copy of the background check to the Department of Safety
- Buy a surety bond in the appropriate amount
- Apply for your license online through Sircon
- Attach the escrow officer appointment form (FINT09)
- Complete and upload all other supporting documents
- Pay the $35 application fee
You must be a resident of Texas, Louisiana, New Mexico, Arkansas or Oklahoma to qualify.
