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ALTA’s Title Insurance and Settlement Company Best Practices

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ALTA created best practices to help members highlight policies and procedures the industry exercises to protect lenders and consumers, while ensuring a positive and compliant real estate settlement experience.

Title Insurance and Settlement Company Best Practices
Download the full document of ALTA's Best Practices.

Resources and Documents
Here you will find guidance material to aid implementation for each pillar of the Best Practices, including Assessment Readiness Guides, webinars and links to additional information.

Assessment Readiness Guides
Available to ALTA members, the Assessment Readiness Guides can be used to help companies determine if they are prepared to undergo an assessment to determine compliance with ALTA’s Best Practices.

Assessment Procedures
The standard assessment procedures can be used by third parties to evaluate settlement services providers.

Certification Package
The certification package can be used by title professionals to demonstrate to lenders that they have implemented Best Practices. The certification package includes a cover page, an agency letter, a Best Practices certificate and a declarations page.

Best Practices Policy and Procedure Creation Guidance
This guide provides members step-by-step directions on how to draft formal policies and procedures for the Best Practices. In addition, a sample policy and procedure as well as a template to help provide a standard format are provided.

Template for Best Practices Policy and Procedure
Download the template to begin building your Best Practices Policy and Procedure for each of the Best Practices.

Best Practices FAQs
These FAQs are designed to give you a better understanding of the Best Practices.

News on Best Practices
November 20, 2014 Positive Pay: A Must-have Service
Banks offer an array of products and services to help title companies conduct business. The challenge is creating and offering services that are safe but still convenient to use. A traditional product that provides protection to funds held in escrow trust accounts is positive pay, also called match pay by some banks.
November 20, 2014 Email Scam Gets You Free Malware, Not Free Pizza
An email going around says you can join in celebrating Pizza Hutt’s 55th anniversary by getting a free pizza at any of its restaurants. Just click on the “Get Free Pizza Coupon” button, the email encourages. Don’t do it. There’s no free pizza. Clicking on the coupon will just install malware on your computer, according to the Federal Trade Commission.
November 20, 2014 Tennessee Law Firm Receives ALTA Best Practices Certification
The public accounting and consulting firm PYA said the certification by Brandt and Beeson demonstrates that organizations of any size can meet the guidelines.
November 20, 2014 California Escrow Company Completes SOC 1, SOC 2 Security Audits
Pango Group, independent escrow company in California, recently completed a Statement on Standards for Attestation Engagement No. 16 (SSAE 16) SOC 1 and SOC 2 Type I audit, which certifies that a company follows policies and procedures to protect non-public personal information.
November 20, 2014 Assessment Readiness Guide Available for All Best Practice Pillars
With guidance from its Best Practices Task Force, ALTA has developed Assessment Readiness Guides to help members evaluate if they are prepared to undergo an assessment to determine compliance with each pillar of its "Title Insurance and Settlement Company Best Practices."
November 20, 2014 North American Title to Provide Identity Theft Repair Coverage to Customers
With data breaches, phishing and other computer hacks placing millions of Americans’ personal financial information at risk, North American Title Co. is providing home buyers and sellers who close with the company on or after Dec. 1, 2014 a year of free identity theft repair coverage.
More Articles on Best Practices

Contact Government Affairs Staff

Steve Gottheim
ALTA's Legislative and Regulatory Counsel
202-296-3671 Ext. 230

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American Land Title Association
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Washington, DC 20036-5104
P. 202.296.3671 F. 202.223.5843
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