How To Get A Utah Escrow Agent License

utah escrow agent license

Because of the SAFE Mortgage Licensing Act, any person who is holding escrow as a third party with the intent to complete a transaction of property after a specific event has occurred is required to have an Escrow  License.

This most often occurs in the case of a home purchase when a home is to be inspected (or a similar requirement is expected before the sale) and the purchaser entrusts an escrow agent with the funds. The escrow agent delivers the funds to the seller after the inspection (or stated action) takes place.

The title and escrow industry in Utah is regulated by the Utah Insurance Department. Licenses are issued in the NMLS (Nationwide Mortgage Licensing System).

How to get a Utah Escrow Agent License

Step #1: Complete Utah Escrow Agent License Application

Your license application must be submitted online. UFDI does not issue paper registration.

Helpful resources for completing your application:

Step #2: Submit other requirements

Step #3: Purchase Utah Escrow Agent Bond

Your bond amount is based on your activities:

  • $10,000 or less (monthly avg. escrow): $10,000 bond
  • $10,001 – $20,000 (monthly avg. escrow): $20,000 bond
  • $20,001 – $30,000 (monthly avg. escrow): $30,000 bond
  • $30,001 – $40,000 (monthly avg. escrow): $40,000 bond
  • Over $40000 (monthly avg. escrow): $50,000 bond

To see what you’d pay for a surety bond, get a free quote.

Get free Utah Escrow Bond quotes

What is a Utah Escrow Agent Bond?

A Utah Escrow Agent Bond is a type of license and permit surety bond required by a state agency for licensure pertaining to escrow activities.

A Utah Escrow Agent Bond protect your clients in case you provide poor advice, make an incorrect or unethical decision, or make in error in your client’s information. If your client suffers financial hardship because of your error, they can make a claim against your bond.

If the claim is determined to be valid, you will be responsible for repaying that claim. If you fail to repay the claim, the surety company who issued your bond will step in and pay the claim. They will then come to you for reimbursement.

Essentially, the bond holds you liable for your actions.

How Much Does a Utah Escrow Agent Bond Cost?

You won’t need to pay the full bond amount to get bonded.

The amount you pay for your bond is a percentage of the total bond amount. The percentage is based on your personal credit history and your business financials.

Generally speaking, you will pay 1-3% of the bond amount if you have good credit, and 4-15% of the bond amount if you have bad credit. This is a one-time payment and covers you for the entire bond term, until your bond needs to be renewed.

At Surety Solutions, we offer quotes from over 30 different insurance companies so you can feel confident that you are getting the best rate.

You can get a free, no-obligation quote below:

See how much you’ll pay for your Utah Escrow Bond


Contact the Utah Department of Financial Institutions licensing staff by phone at 801-538-8830 or send your questions via e-mail to for additional assistance.

Related Links:

Utah Title and Escrow Commission

Nationwide Mortgage Licensing System

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