New Venture Escrow Ordered to Cease and Desist, Pay $14,000 Fine

ORDER SUMMARY Consumer Services Division Case Number C-23-3617 Name New Venture Escrow, Inc. Order Number C-23-3617-26-CO01 Date issued March 20, 2026 What does this Consent Order require? x All terms of this order are complete. x New Venture Escrow, Inc. must cease and desist from violating the Escrow Agent Registration Act, rules, and applicable federal laws and regulations described in the Statement of Charges. x New Venture Escrow, Inc. must pay a fine of $12,000.00. x New Venture Escrow, Inc. must pay an investigation fee of 2,000.00. Need more information? You can contact the Consumer Services Division, Enforcement unit at (360) 902-8703 or csenforcecomplaints@dfi.wa.gov. Please remember that we cannot provide financial or legal advice to members of the public. We also cannot release confidential information.

Last updated 3/20/26

March20th

Consumer Services Division Case Number C-23-3617 Statements of Charges allege wrongdoing by a company or individual. DFI issues Statements of Charges to tell the company or individual: x They have been investigated x DFI is making allegations against them x What the allegations are x What consequences could follow DFI informs the company or individual of their rights at this time. The company or individual can respond to the Charges. They also have the right to contest the Charges at an administrative hearing. New Venture Escrow, Inc. Name Number

1/12/2026 Date issued Questions? You can contact the Consumer Services Division, Enforcement unit at (360) 902-8703 or csenforcecomplaints@dfi.wa.gov. Please remember that we cannot provide financial or legal advice to members of the public. We also cannot release confidential information.

Last updated 1/12/2026

1 STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS DIVISION OF CONSUMER SERVICES 2

IN THE MATTER OF DETERMINING No.: C-23-3617-26-SC01 3 Whether there has been a violation of the Escrow Agent Registration Act of Washington by: STATEMENT OF CHARGES and 4 NOTICE OF INTENT TO ENTER AN EW VENTURE ESCROW, INC. ORDER TO CEASE AND DESIST, 5 PROHIBIT FROM INDUSTRY, IMPOSE FINE, COLLECT INVESTIGATION FEE, 6 Respondent. AND MAINTAIN RECORDS 7

INTRODUCTION

8 Pursuant to RCW 18.44.410, the Director (Director) of the Department of Financial 9 Institutions of the State of Washington (Department) is responsible for the administration of chapter 10 18.44 RCW, the Escrow Agent Registration Act (Act). After having conducted an investigation 11 pursuant to RCW 18.44.420 and WAC 208-680-620, and based upon the facts available as of the date 12 of this Statement of Charges and Notice of Intent to Enter an Order to Cease and Desist, Prohibit 13 from Industry, Impose Fine, Collect Investigation Fee, and Maintain Records (Statement of Charges), 14 the Director, through his designee, Consumer Services Division Director Ali Higgs, institutes this 15 proceeding and finds as follows: 16

1. FACTUAL ALLEGATIONS 1.1 New Venture Escrow, Inc. (Respondent) has never been licensed by the Department to

18 conduct business as an escrow agent. 19

1.2 Unlicensed Activity. Between at least December 15, 2022, and May 11, 2023, Respondent

20 performed escrow functions in at least six Washington real property transactions. Respondent 21 received approximately $12,194.75 in fees for those transactions. 22 23 24

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1 1.3 Failure to Maintain Records in the State of Washington. Between at least December 15,

2 2022, and the date of this Statement of Charges, Respondent failed to maintain adequate records in 3 the state of Washington of all escrow transactions handled by or through Respondent 4 1.4 On-Going Investigation. The Department’s investigation into the alleged violations of the

5 Act by Respondent continues to date. 6 II. GROUNDS FOR ENTRY OF ORDER

7 2.1 Definition of Escrow. Pursuant to RCW 18.44.011(7), “Escrow” means any transaction

8 wherein any person or persons, for the purpose of effecting and closing the sale, purchase, exchange, 9 transfer, encumbrance, or lease of real or personal property to another person or persons, delivers any 10 written instrument, money, evidence of title to real or personal property, or other thing of value to a 11 third person to be held by such third person until the happening of a specified event or the 12 performance of a prescribed condition or conditions, when it is then to be delivered by such third 13 person, in compliance with instructions under which he or she is to act, to a grantee, grantor, 14 promisee, promisor, obligee, obligor, lessee, lessor, bailee, bailor, or any agent or employee thereof. 15 2.2 Definition of Escrow Agent. Pursuant to RCW 18.44.011(8) “Escrow Agent” means any

16 person engaged in the business of performing for compensation the duties of the third person referred 17 to in RCW 18.44.011(7). 18 2.3 Requirement to Obtain and Maintain License. Based on Factual Allegations set forth in

19 Section I above, Respondent is in apparent violation of RCW 18.44.021 for engaging in the business 20 of an escrow agent by performing escrows or any of the functions of an escrow agent within the state 21 of Washington or with respect to transactions that involve personal property or real property located 22 in the state of Washington without first obtaining a license. 23 //

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1 2.4 Requirement to Maintain Records in the State of Washington. Based on the Factual

2 Allegations set forth in Section I above, Respondent is in apparent violation of RCW 18.44.400 and 3 WAC 208-680-530 for failing to maintain transaction records in the state of Washington for a period 4 of six years from completion of the transaction. 5 III. AUTHORITY TO IMPOSE SANCTIONS

6 3.1 Authority to Issue an Order to Cease and Desist and Maintain Records. Pursuant to

7 RCW 18.44.440 and WAC 208-680-630, if the Director determines after notice and hearing that a 8 person has violated any provision of the Act the Director may issue an order requiring the person to 9 cease and desist from the unlawful practice and to take such affirmative action as in the judgment of 10 the Director will carry out the purposes of the Act. 11 3.2 Authority to Prohibit from Industry. Pursuant to RCW 18.44.430(3), the Director may

12 issue an order removing from office or prohibiting from participation in the conduct of the affairs of 13 any licensed escrow agent, any officer, controlling person, director, employee, or licensed escrow 14 officer, for violation of any provision of the Act or any lawful rule made by the Director pursuant 15 thereto. 16 3.3 Authority to Impose Fine. Pursuant to RCW 18.44.430(3), the Director may impose a fine

17 up to $100 per day for violation of any provision of the Act or any lawful rule made by the Director 18 pursuant thereto. 19 3.4 Authority to Collect Investigation Fee. Pursuant to RCW 18.44.410, WAC 208-680-620,

20 and WAC 208-680-650, the Director may charge for the cost of an investigation, calculated at the 21 rate of $62.50 per hour. 22 //

23 //

24 //

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1 IV. NOTICE OF INTENT TO ENTER ORDER

2 Respondent’s violations of the provisions of chapter 18.44 RCW as set forth in the above 3 Factual Allegations and Grounds for Entry of Order constitute a basis for the entry of an Order under 4 RCW 18.44.400, RCW 18.44.410, RCW 18.44.430, RCW 18.44.440 and WAC 208-680-630, which 5 authorize the Director to enforce all laws, rules, and regulations related to the registration of escrow 6 agents and licensing of escrow officers. Therefore, it is the Director’s intent to ORDER that: 7 4.1 Respondent New Venture Escrow Inc. cease and desist from engaging in the business

of an escrow agent in the state of Washington until such time as New Venture Escrow 8 Inc. obtains a license from the Department to provide escrow services in the state of Washington or meets an exclusion from licensing as delineated in the Act. 9

4.2 Respondent New Venture Escrow, Inc. pay a fine of $36,000.

4.3 Respondent New Venture Escrow, Inc. pay an investigation fee of $2,000.

4.4 Respondent New Venture Escrow, Inc. its officers, employees, and agents maintain all

12 records involving Washington State escrow transactions within the state of Washington for a period of six years from completion of the escrow transactions. 13 14 // 15 // 16 // 17 // 18 // 19 // 20 // 21 // 22 // 23 // 24 //

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1 V. AUTHORITY AND PROCEDURE

2 This Statement of Charges is entered pursuant to the provisions of RCW 18.44.410, RCW 3 18.44.430, and RCW 18.44.440, and is subject to the provisions of chapter 34.05 RCW (the 4 Administrative Procedure Act). Respondent may make a written request for a hearing as set forth in 5 the NOTICE OF OPPORTUNITY TO DEFEND AND OPPORTUNITY FOR HEARING 6 accompanying this Statement of Charges. 7 8 Dated this 12 day of January, 2026. th 9 10 _______________________ ALI HIGGS, Director 11 Department of Financial Institutions 12 13 Presented by: 14 _______________________________ 15 KENNETH J. SUGIMOTO Financial Legal Examiner Supervisor 16 17 Approved by: 18 19 20 _______________________________ 21 KENDALL FREED Enforcement Chief 22 23 24

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