Ironclad Title Completes ALTA Best Practices Compliance Review

July 14, 2015

Ironclad Title, a real estate law and settlement service company based in Lake Charles, La., announced its satisfactory completion of a Best Practices Compliance review by Pershing Yoakley & Associates (PYA).

The completion of the independent, third-party review demonstrates the company’s compliance with ALTA’s Best Practices.

“It is a tremendous honor and achievement for our locally-owned and operated office to bring the national standard in our industry back to our hometown,” said Jack Robichaux NTP, managing partner of Ironclad Title. “We are thrilled to provide all of our customers with a peace of mind in knowing that our policies and procedures adhere to standards that are in line with the goals of the Consumer Financial Protection Bureau (CFPB) in protecting consumers.”

ALTA’s Best Practices framework was developed as a solution for mortgage lenders to meet regulatory requirements imposed by the CFPB, which requires that lenders have an effective process in place for managing the risks of their third-party service provider relationships. Universally adopted, this framework serves as a benchmark for the real estate settlement industry. Compliance illustrates the highest level of professionalism and consumer protection possible.

Robichaux said Ironclad Title worked with PYA., a Knoxville, Tenn.-based national public accounting firm, because they are an ALTA Elite Provider and a highly qualified, peer-reviewed firm that has provided support, advisory, assurance and compliance services for over three decades.

“[W]e felt it was extremely important for an independent third-party to perform our review, as it is human nature to overlook some shortcomings when doing a self-assessment,” Robichaux added. “PYA’s management team and staff were exceptionally professional and diligent in conducting their on-site processes review, and we have a better comfort in knowing that our policies were validated by someone other than ourselves, which means our certification is more valuable to our clients and customers.”

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