Rhode Island Title Agency Recognizes Value of Best Practice Certification
December 19, 2013
Lincoln Abstract & Settlement Services, sister company of Lincoln Appraisal & Settlement Services, is pleased to announce it is becoming "Best Practices Certified" in accordance with the American Land Title Association’s (ALTA) Best Practices Framework.
Compliance and meeting the needs of customers is a focus for George Demopulos, president of Rhode Island-based Lincoln Abstract and Settlement Services. Learning how to implement Best Practices was a deciding factor in why the company attended ALTA’s 2013 Annual Convention in October in Palm Beach, Fla.
After attending the convention, Lincoln Abstract started working toward creating an ALTA Best Practices certification package to provide to its clients. The ALTA Best Practices certification package includes an agency letter, Best Practices certificate and a declarations page.
The agency letter serves as an agreement that Lincoln Abstract will remain in compliance with each of the Best Practices during the 24-month period commencing on the date of the letter. The Best Practices certificate includes the specific procedures executed as related to ALTA’s Best Practices, in addition to a performance grade for the procedures. The declarations page will include a copy of Lincoln Abstract’s errors and omissions or a professional liability declarations page.
“Becoming Best Practices certified will not only help Lincoln Abstract to assist lenders with their responsibilities of third-party vendor management, but it will also provide risk-management relief for clients,” said George Demopulos, president of Lincoln Abstract and Settlement Services.
Click here for more about ALTA’s Best Practices Framework.