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. ALTA recently published a Best Practices Compliance Management Report, which can be completed and provided to lenders and others evidencing compliance with Best Practices.
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.
The standard assessment procedures can be used by third parties to evaluate settlement services providers.
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
|May 26, 2015
||With Focus on TRID, Don’t Forget About Best Practices
For most title professionals, attention has turned to preparing for implementation of Loan Estimate and Closing Disclosure. Preparing for Aug. 1 and beyond, however, should not be the only focus. Implementation of ALTA’s Best Practices also should remain a priority.
|May 19, 2015
||ALTA Announces Two New Elite Providers
ALTA announced that Rizolv and SMS TrustLink have been named Elite Providers. The companies join 10 other companies as ALTA Elite Providers.
|May 12, 2015
||HA&W’s ComplianceSuccess Program Partners with Old Republic as Preferred Vendor
HA&W’s ComplianceSuccess Program offers Old Republic Title agents comprehensive testing and reporting across all seven of ALTA’s Best Practices pillars.
|May 5, 2015
||PYA Provides Services to Title and Settlement Agents as Recommended by AICPA
Pershing Yoakley & Associates, a national consulting and certified public accounting firm, offers ALTA Best Practices services for title and settlement agents in accordance with The American Institute of Certified Public Accountants’ newly released Technical Questions and Answers guidance.
|April 30, 2015
||HA&W ComplianceSuccess Program Partners with AICPA to Develop ALTA Best Practices Reporting Standards
|April 23, 2015
||SunTrust Shares TRID Plans; Requires ALTA Best Practice Self Assessment by July 1
||More Articles on Best Practices
Contact Government Affairs Staff
ALTA's Legislative and Regulatory Counsel
202-296-3671 Ext. 230