RynohLive Announces Compliance With ALTA Best Practices

November 20, 2012

Title and settlement companies subscribing to RynohLive meet client and legal requirements for the safeguarding of client funds in accordance with ALTA’s Title Insurance and Settlement Company Best Practices, according to RynohLive.

“RynohLive meets, and even exceeds ALTA’s Best Practice (procedures and controls regarding escrow trust accounts) in its entirety,” said Dick Reass, founder and president of RynohLive. Reass recently advocated for change to escrow management best practices in a presentation to the National Association of Insurance Commissioners.

"We are pleased RynohLive is utilizing our best practices to protect consumers, ensure quality service, and meet legal and market requirements," said Michelle Korsmo, ALTA’s chief executive officer. "We developed these best practices as a tool for our industry and are excited for other leaders like RynohLive to announce compliance soon."

Title and Settlement agencies who use RynohLive receive daily electronic verification of reconciliation for their Escrow Trust accounts. In addition, RynohLive provides agents the ability to:

  • Respond immediately to internal and external fraud, errors, or any issue that demands immediate attention
  • Customize the detail, frequency, and recipients of escrow transaction alerts
  • Monitor all escrow activity on a single dashboard for multiple-office agencies
  • Synchronize Positive Pay records with their banks
  • Automatically generate a monthly reconciliation analysis report, and send it to their underwriter(s) after a review period.

Contact ALTA at 202-296-3671 or communications@alta.org.

SoftPro is the nation's leading provider of real estate closing and title insurance software. With more than 14,000 customer sites and over 60,000 users nationwide, this award-winning software offers a suite of products designed to increase your volume and revenue by reducing the time it takes to do closings. SoftPro has been recognized by the American Business Awards every year since 2007 - winning awards for Superior Customer Service, Support and Product Development. North American Title Insurance Company (NATIC) is a seasoned title insurance underwriter, helping title agents to achieve their individual business goals for more than 50 years. Today, the company conducts real estate settlement services in 39 states and the District of Columbia through a network of experienced, independent agents.