Your Next Trust Account Audit: Are You Prepared?
Chances are, you are overdue for an examination by the regulatory body governing your escrow company. Audits are rarely performed when expected. If it’s been close to two years since your last visit from a state auditor, here are some steps you can take now to be prepared and to save yourself some time and money!
Review a sampling of your files, both open and closed. Are they orderly with...
Broker-Owned: Escrow Activity Report New for 2013
Revised 01/2013 Department of Real Estate Escrow Activity Report – Frequently Asked Questions Q. What is the Escrow Activity Report? A. The Escrow Activity Report is a report of broker-controlled escrow activities filed every calendar year a broker meets the escrow threshold. Q. What is the escrow threshold? A. Brokers who are exempt from the Escrow Law...
Out of Balance: Are You Gambling With Your License?
In the course of balancing trust accounts over the last 22 years, I’ve come across just about every circumstance you can imagine. The common stuff—small bookkeeping errors, bank encoding mistakes, wires lost in cyberspace—occurs all the time. Finding one check (among thousands) paid for a penny too much has prompted many a headache. Too Busy to Fix – A Dangerous (and Expensive)...
Fraud: It Can Happen to You
There really isn’t much to say about the recent rash of fraudulent check activity. I used to believe that with diligence and watchful eyes, most fraud could be prevented. Locking up your checks at night and limiting access to banking materials was advised to keep criminals from stealing and forging your checks. Now, issued checks are altered and blank checks are duplicated. These counterfeit...
Got Uncashed Checks?
It’s one of those tasks that happen once a year, and like audits, nobody likes to talk about it: escheating of unclaimed funds to the State of California. Every year, we watch thousands upon thousands of dollars being sent to the State for uncashed, outstanding checks. I see refund checks in excess of $2,000.00 being remitted and I have to ask, where are these people? Don’t they WANT this...
About Pam
Pam Ripling has been affiliated with the escrow industry since 1978. A former escrow officer, Pam has helped design and sell escrow software, installed computer systems and trained end users. Quite by accident, she became an expert at trust accounting and formed her own company in 1991. She focuses on personal service and has built many long-term relationships with other industry professionals. 
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