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ALTA’s Title Insurance and Settlement Company Best Practices

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ALTA created best practices to help members highlight policies and procedures the industry exercises to protect lenders and consumers, while ensuring a positive and compliant real estate settlement experience.

Title Insurance and Settlement Company Best Practices
Download the full document of ALTA's Best Practices.

Resources and Documents
Here you will find guidance material to aid implementation for each pillar of the Best Practices, including Assessment Readiness Guides, webinars and links to additional information.

Assessment Readiness Guides
Available to ALTA members, the Assessment Readiness Guides can be used to help companies determine if they are prepared to undergo an assessment to determine compliance with ALTA’s Best Practices.

Assessment Procedures
The standard assessment procedures can be used by third parties to evaluate settlement services providers.

Certification Package
The certification package can be used by title professionals to demonstrate to lenders that they have implemented Best Practices. The certification package includes a cover page, an agency letter, a Best Practices certificate and a declarations page.

Best Practices Policy and Procedure Creation Guidance
This guide provides members step-by-step directions on how to draft formal policies and procedures for the Best Practices. In addition, a sample policy and procedure as well as a template to help provide a standard format are provided.

Template for Best Practices Policy and Procedure
Download the template to begin building your Best Practices Policy and Procedure for each of the Best Practices.

Best Practices FAQs
These FAQs are designed to give you a better understanding of the Best Practices.

News on Best Practices
December 23, 2014 ALTA Announces PCN Network as Elite Provider Member
ALTA’s Elite Provider Membership Program is comprised of premier service providers committed to offering comprehensive benefits to the title insurance and settlement services industry. Elite Providers promote the highest industry standards and provide effective solutions for ALTA members’ critical needs.
December 23, 2014 Attorneys, Closing Agents Warned of Fraud Scheme Involving Emailed Wire Instructions
According to the prosecutor for Morris County, N.J., cyber thieves are targeting email accounts of attorneys, title agencies and real estate agents.
December 11, 2014 Webinar Recording: Is It Time to Get Best Practice Certified?
You've implemented ALTA's "Title Insurance and Settlement Company Best Practices" and conducted a self assessment, but now what? It may be time to get ahead of lender requirements and get assessed and certified. Listen to a recording of the webinar "Is It Time to Get Best Practice Certified? How to Prepare, Understand the Options and What to Expect" as experts in attestation and certification walk through what your company should do to prepare for a third-party assessment, the different options, what to expect and how to promote your company once certified. The webinar also discusses tools developed by ALTA to help get your operation primed for Best Practice perfection.
December 11, 2014 Reported Cybersecurity Breaches Spike Nearly 50 Percent
The number of reported security incidents rose 48 percent this year to 42.8 million—which is the equivalent of 117,339 attacks per day—according to the 2015 Global State of Information Security Survey released by Price Watterhouse Cooper. As security incidents grow in frequency, the associated costs of managing and mitigating breaches are also increasing. Globally, the estimated reported average financial loss from cybersecurity incidents was $2.7 million.
December 11, 2014 Assessment Readiness Guide Available for All Best Practice Pillars
With guidance from its Best Practices Task Force, ALTA has developed Assessment Readiness Guides to help members evaluate if they are prepared to undergo an assessment to determine compliance with each pillar of its "Title Insurance and Settlement Company Best Practices."
December 4, 2014 Best Practices Implementation: Don’t Forget Your Employees
While working toward developing, documenting and implementing Best Practices, companies must also be proactive training and communicating with employees about policies and procedures that should be followed.
More Articles on Best Practices

Contact Government Affairs Staff

Steve Gottheim
ALTA's Legislative and Regulatory Counsel
202-296-3671 Ext. 230

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American Land Title Association
1800 M Street, NW, Suite 300S
Washington, D.C. 20036-5828
P. 202.296.3671 F. 202.223.5843
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