New Venture Escrow, Inc. - Cease and Desist Order and Fine

Last updated 1/12/2026 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 co ntest the Charges at an administrative hearing. Name New Venture Escrow, Inc. Number C-23-3617-26-SC01 Date issued 1/12/2026 Questions? You can contact the Consumer Services Division, Enforcement unit at (360) 902-8703 or csenforcecomplaints@dfi.wa.gov. Please remember that we cannot pr ovide financial or legal advice to members of the public. We also cannot rel ease confidential information.

STATEMENT OF CHARGES C-23- 361 7-26- SC 01 NEW VENTUR E ESCROW, INC. 1 DEPARTME NT OF FINANCIAL INSTITUT IONS Divis ion of C ons umer Serv ices P.O. Box 4120 0 Olympia, WA 98504-1200 (360) 902-8 703 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 STATE OF WASHINGTON DEPARTMENT OF FINANCIAL INSTITUTIONS DIVISION OF CONSUMER SE RVICES IN THE MATTER OF DETERMINING Whether there has been a violation of the Escrow Agent Registration Act of Washington by: N EW VENTURE ESC ROW, INC. Respondent. No.: C-23-3617-26-SC01 STATEMENT OF CHARGES and NOTICE OF INTENT T O ENTER AN ORDER TO CEASE AND DES IST, PROHI BIT FRO M IN DUSTRY, I MPOSE FINE, COLLECT INVESTIGATION FEE, AND MAINTAIN RECOR DS INTRODUCTION Pursuant to RCW 18.44.410, the Director (Direc t or) of the Department of Financial Institutions of the State of Washington (Department) is responsible for the administration of chapter 18.44 RCW, the Escrow Agent Registration Act (Act). Afte r having conducted an investigation pursuant to RCW 18.44.420 and WAC 208- 680-620, and based upon the facts available as o f the date of this Statement of Charges and Notice of Intent to Enter an Or der to Cease and Desist, Prohibit from Industry, I mpose Fine, Collect Investigation Fee, and Maintain Records (Statement of Charges), the Director, through his designee, Consumer Services Di vision Director Ali Higgs, institutes this proceeding and finds as f ollows: I. FACTUAL ALLEGATIONS 1.1 New V enture Esc row, Inc. (Res pondent) has never been licensed by the Department to conduct business as an es crow agent. 1.2 Unlicensed Activity. Be tween at least December 15, 2022, and May 11, 2 023, Respondent performed escrow functi ons in at least six Washington real property transactions. Respondent received approximately $12,194.75 in f ees for thos e transactions.

STATEMENT OF CHARGES C-23- 361 7-26- SC 01 NEW VENTUR E ESCROW, INC. 2 DEPARTME NT OF FINANCIAL INSTITUT IONS Divis ion of C ons umer Serv ices P.O. Box 4120 0 Olympia, WA 98504-1200 (360) 902-8 703 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 1.3 Failure to Main tain Records in the State of W ashington. Between at least December 15, 2022, and the date of this Statemen t of Charges, R espondent failed to maintain adequate records in the state of Washington of all escrow tran sa ctions handled by or through Respondent 1.4 On-Going Investigation. The Department’s investigation in to the alleged violations of the Act by Respondent c ontinues to date. II. GROUNDS FOR ENTRY OF ORDER 2.1 Definition of Escrow. Pursuant to RCW 18.44.011(7), “E scrow” m eans any transaction wherein any person or pe rsons, for the purpose of e ffecting and closing the sale, purch ase, exchange, transfer, encumbr ance, or lease of real or p ersona l property to another person or persons, delive rs any written instrument, mone y, evidence of title to r eal or personal property, or other thing of value to a third person to be held by such thir d person until the happe ning of a specified eve nt or the performance o f a prescribed condition or conditions, when it is then to be delivered by such thir d person, in compliance with instructions under which he or she is to act, to a grantee, g rantor, promisee, promisor, obligee, obligor, lessee, lessor, bailee, bailor, or any agent or employee the reof. 2.2 Definition of Escrow Agent. Pursuant to RCW 18.44.011(8) “Escrow A gent” means any person engaged in the business of perfo rming for co mpensation the duties of the third person referr ed to in RCW 18.44.011(7). 2.3 Requirem ent to Ob tain and Main tain Licens e. Based on Factual Alle gations set forth in Section I above, Respondent is in apparent violation of RCW 18.44.021 for engaging in the business of an escrow agent by pe rforming escrows or any of the functions of an esc row agent within the state of Washington or with respect to transactions that involve personal propert y or real property loc ated in the state of Washington wit hout first obtaining a license. //

STATEMENT OF CHARGES C-23- 361 7-26- SC 01 NEW VENTUR E ESCROW, INC. 3 DEPARTME NT OF FINANCIAL INSTITUT IONS Divis ion of C ons umer Serv ices P.O. Box 4120 0 Olympia, WA 98504-1200 (360) 902-8 703 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 2.4 Requirem ent to Maintai n Records in the State of Washington. Based on the Factual Allegations set forth in Secti on I above, Respondent is in apparent violation of RCW 18.44.400 and WAC 208-680-530 for failing to maintain transaction r ecords in the state o f Washington for a p eriod of six years from completion of the transaction. III. AUTHORITY TO IMPOSE SANCTIONS 3.1 Authority to Issue an Or der to Cease and Desist and Maintain Records. Pursuant to RCW 18.44.440 and WAC 208-680-630, if the Di rector dete rmines after notice and he aring that a person has violated any provision of the Act the Di rector may issue an order requiring the person to cease and desist from the unlawful pra ctice and to take such affirmative action as in the judgment of the Director will car ry out the purposes of the Act. 3.2 Authority to Prohibit from Industry. Pursuant to RCW 18.44.430(3), the Director may issue an order removing from offi ce or prohibiting from participation in the conduct of the a ffairs of any licensed escrow agent, any officer, controllin g person, director, employ ee, or licensed escrow officer, for violation of any provision of the Act o r any lawful rule made by the Director pu rsuant thereto. 3.3 Authority to Impose Fine. Pursuant to RCW 18.44.430(3), th e Director may impose a fine up to $100 per day for violation of any provision of the Act or any la wful rule made by the Director pursuant thereto. 3.4 Authority to Collect Investigation Fee. Pursuant to RCW 18.44.410, WAC 208-680-620, and WAC 208-680-650, the Directo r may charge for the cost of an investigation, calculated at the rate of $62.50 per hour. // // //

STATEMENT OF CHARGES C-23- 361 7-26- SC 01 NEW VENTUR E ESCROW, INC. 4 DEPARTME NT OF FINANCIAL INSTITUT IONS Divis ion of C ons umer Serv ices P.O. Box 4120 0 Olympia, WA 98504-1200 (360) 902-8 703 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 IV. NOTICE OF INTE NT TO ENTER ORDE R Respondent’s violations of the provisions of chapter 18.44 RCW as set forth in the above Factual Allegations and Grounds for Entry o f Order c onstitute a basis for the entry of an Order under RCW 18.44.400, RCW 18.44.410, RCW 18.44.430, RCW 18.44.440 and WAC 208-680-630, which authorize the Di rector to enforce all laws, rules, an d regulations related to th e registration of escrow agents and licensing of escrow offi cers. Th erefor e, it is the Direc tor’s intent to ORDER that: 4.1 Respondent New Venture Escrow Inc. cease and desist from engaging in the business of an escrow a gent in the state of Washington until suc h time as New Venture Escrow Inc. obtains a licens e from the Department to provide escrow s ervices i n the state of Washington or meets an exclusion from licensing as delineated in t he Act. 4.2 Respondent New Venture Escrow, Inc. pay a fine of $36,000. 4.3 Respondent New Venture Escrow, Inc. pay an inv estigation fee of $2,000. 4.4 Respondent New Venture Escrow, Inc. its offi cers, employees, and ag ents maintain all records involving Washington St ate escrow transactions within the state of Washington for a period of six years f rom completion of the escrow transactions. // // // // // // // // // // //

STATEMENT OF CHARGES C-23- 361 7-26- SC 01 NEW VENTUR E ESCROW, INC. 5 DEPARTME NT OF FINANCIAL INSTITUT IONS Divis ion of C onsum er Serv ices P.O. Box 4120 0 Olympia, WA 98504-1200 (360) 902-8 703 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 V. AUTHORITY AND PROCE DURE This Statement of Charges is entered pu rsuant to the provisions of RCW 18.44.410, RCW 18.44.430, and RCW 18.44.440, and is subject to the provisions of chapter 34.05 RCW (the Administrative Procedure Act). Res pond ent may make a wri tten request for a hea ring as set forth in the NOTICE OF OPP ORTUNITY TO DEFE ND AND OP PORTUN ITY FOR HEARING accompanying this S tatem ent of Charges. Dated this 12 th day of January, 2026. _______________________ ALI HI GGS, D ire ct or Division of Consumer Services Department of Fina ncial Institutions Presented by: _______________________________ KENNETH J. SUGIMOTO Financial Legal Exa miner Supervisor Approved by: _______________________________ KENDALL FREED Enforcement C hief A LI H IG G G GS G G GS GS G G G G G G D