ALTA Best Practice Certification
Oread Partners provides American Land Title Association (ALTA) best practice certification to make sure you can confidently deliver positive and compliant real estate settlement experiences to you customers. Our ALTA Best Practice Certification process follows seven best practice pillars:
- Establish and maintain current License(s) as required to conduct the business of title insurance and settlement services.
- Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.
- Adopt and maintain a written privacy and information security program to protect Non-public Personal Information as required by local, state and federal law.
- Adopt standard real estate settlement procedures and policies that help ensure compliance with Federal and State Consumer Financial Laws as applicable to the Settlement process.
- Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
- Maintain appropriate professional liability insurance and fidelity coverage.
- Adopt and maintain written procedures for resolving consumer complaints.
If you are a title agent, you need to be ALTA Best Practice compliant or SOC compliant as more and more lenders everyday are requiring title agents to adhere to stricter standards. Our program is:
Fast: Our fast-track approach can assess your current level of compliance and provide a remediation plan in as little as five business days.
Affordable: The efficiency of our process delivers the best price point to achieve compliance with ALTA Best Practices.
Comprehensive: We offer complete compliance benchmarking, testing and reporting services across all seven ALTA Best Practices pillars.
Proven: Our roadmap to compliance is based on the ALTA Best Practices Framework.
Trusted: Oread Partners is a trusted partner for ALTA Best Practice Certification.
The current environment is hazy in regards to regulatory organizations seeing eye-to-eye with ALTA Best Practices. Nonetheless, lenders are relying more on ALTA’s Best Practices standards to manage their title agents and keep their businesses in plain sight. If you need assistance keeping ALTA Best Practices compliance in your visual field, we can help. Through our certification program, we can help you identify opportunities for improvement and devise strategies to reach your ALTA Best Practices compliance goals. Once you are compliant, we can work with you to provide the compliance certification report that will keep you on your lender’s “approved list.”
Ready to move forward with your ALTA best practice certification? Please contact us today.