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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
October 23, 2014 Habif, Arogeti & Wynne Introduces Best Practices Compliance Program
Habif, Arogeti & Wynne LLP a Georgia-based tax, accounting and business advisory firm, introduced its ComplianceSuccess Program, which provides benchmarking and reporting services across all seven of ALTA’s Best Practices pillars.
October 23, 2014 Just Released: Best Practices Assessment Readiness Guide Available for Pillar No. 3
With guidance from its Best Practices Task Force, ALTA released an Assessment Readiness Guide to help members evaluate if they are prepared to undergo an assessment to determine compliance with pillar No. 3 of ALTA’s “Title Insurance and Settlement Company Best Practices.” ALTA has now released an Assessment Readiness Guide for each Best Practice pillar.
October 23, 2014 eLynx, PCN Network Partner to Offer Managed Disbursement Service
The two companies created Safe Escrow, a managed disbursement service that gives lenders greater assurance that escrow misappropriation can be prevented more effectively and helps large and small settlement agents meet ALTA’s “Title Insurance and Settlement Company Best Practices.”
October 23, 2014 Atlantis National Services Completes SOC1 TYPE 2 Exam
Atlantis National Services, a 32-state licensed title insurance agent, announced it has completed a Service Organization Control examination by its auditors at Mayer, Hoffman, & McCann.
October 14, 2014 LenderSecure Announces Suite of Best Practice Solutions Providers
LenderSecure announced the addition of four new partners offering solutions that offer solutions to mitigate security risks and help title independent title agents, settlement agents, attorneys, notaries, escrow agents and other service providers meet compliance standards for ALTA’s “Title Insurance and Settlement Company Best Practices.”
October 14, 2014 CFPB Proposes Changes to RESPA-TILA Final Rule
First, the bureau proposed to give creditors extra time to provide consumers with a revised Loan Estimate after a consumer locks or extends a floating interest rate. Second, an amendment would permit language related to new construction loans to be included on the Loan Estimate form. Finally, the CFPB proposed to amend the 2013 Loan Originator Final Rule to provide for placement of the NMLSR ID on the integrated disclosures.
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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
1828 L Street, NW, Suite 705
Washington, DC 20036-5104
P. 202.296.3671 F. 202.223.5843
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