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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. ALTA recently published a Best Practices Compliance Management Report, which can be completed and provided to lenders and others evidencing compliance with Best Practices.

Purchase Best Practices Resources and Documents
Non-ALTA members may now purchase a Best Practices Subscription to access the Best Practices resources and documents that were previously available exclusively to ALTA members. These resources and documents were designed to help companies perform a Best Practices assessment and demonstrate their compliance to third parties, including lenders. There are multiple Best Practices Subscriptions available, designed to provide you with the tools your company needs to implement the Best Practices standards.

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
June 30, 2015 Title Industry Assurance Company Introduces New E&O Policy
As the title industry continues to evolve at a rapid pace, it is vital for title professionals to select a professional liability/E&O policy that addresses today’s expansive exposures. As the title industry’s own E&O insurer, TIAC’s new expanded coverage incorporates enhancements suggested by title underwriters, agents and abstracters.
June 25, 2015 How Encryption Can Help with CFPB Compliance
To maintain CFPB compliance without violating consumer privacy or causing a breach of NPI, it’s crucial that title agents provide proper training with everyone on staff so that, say, a Closing Disclosure doesn’t end up on the wrong person’s desk — or in their inbox.
June 23, 2015 Tips to Identify Valid and Suspicious Email
While companies may have spam filters and antivirus software, spam and phishing emails can still slip through employee inboxes. Email recipients are the most critical element in preventing an attack. Read on for some tips on how to identify the authenticity of a questionable email.
June 23, 2015 ALTA Announces Signature Information Solutions as an Elite Provider
The company joins 13 other ALTA Elite Providers, which are companies committed to offering comprehensive benefits to the title insurance and settlement services industry.
June 23, 2015 WACO Title Announces Certification to ALTA Best Practices
Fayetteville, Ark.-based WACO Title announced that on May 29 it received an unqualified audit opinion certifying that the company adheres to ALTA’s Best Practices.
June 18, 2015 Agents National Title Certification of its Agency Management Systems
Agents National Title Insurance Company announced it has successfully completed a Statement on Standards for Attestation Engagements Number 16 Service Organization Control 1 Type 1 audit of its agency management systems and procedures.
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
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
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