In Arkansas and Alabama, some requirements are usually insurmountable barriers to title agencies with non-resident status.
Arkansas requires brick and mortar and residency. Alabama has similar requirements. Further, those states do not have an Escrow Only solution.
System 2 Thinking has received permission to execute on Money Transmitter licenses for escrow-only operations in lieu of an escrow license. With a Money Transmitter license in either of these states, a non-resident title agency can collect escrow fees with this niche license which is generally for companies like Venmo or Paypal.
As always, we are happy to help with this challenging process. Call us at 917.420.0333 for a free one-hour consultation or fill out the Contact Us Now form below.
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