Stewart Partners with Deloitte to Offer Compliance Services to Agents

June 11, 2015

Stewart has agreed to offer a voluntary Deloitte & Touche compliance service to its independent title and settlement agents who wish to receive third-party attestation.

When engaged, Deloitte & Touche will be able to perform an examination on the independent title agency’s management assertion on their compliance with ALTA’s Title Insurance and Settlement Company Best Practices. Deloitte & Touche’s examination procedures are based on American Institute of Certified Public Accountants (AICPA) attestation standards leveraging the ALTA Best Practices framework.

The ALTA Best Practices guidelines were developed to assist lenders in satisfying their responsibility to manage third-party vendors pursuant to new standards established by the Consumer Financial Protection Bureau (CFPB), and to use as a benchmark for the real estate settlement and mortgage lending industries to help highlight policies and procedures within the industry. The goal is to protect lenders and consumers, while maintaining a positive and compliant real estate settlement experience.

“We hold our network to the highest standards and put each title agency and attorney agent through a rigorous vetting process before they’re welcomed into our network,” said Pat Beall, group president of Stewart Agency Operations. “By having the optional ALTA Best Practices Compliance Attestation as part of our process, Stewart further validates the high-quality standards of our network, which lenders and consumers will find of value.”

As a part of Stewart’s Trusted Provider program, an agency or attorney agent must pass an initial due-diligence screening, conduct business according to Stewart’s Trusted Provider Standards, and undergo ongoing monitoring.

The Compliance Attestation enhances Stewart’s existing vetting process of its agent network, and addresses the seven pillars of ALTA’s Best Practices. This includes licensing, escrow accounting procedures, privacy and information security, settlement procedures, title policy production and delivery, professional liability insurance coverage, and consumer complaints resolution.


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

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