Florida-based Title Company Implements Best Practices
July 17, 2014
First International Title’s CEO Jim Moran clearly knows what is crucial to the survival of the independent title agent.
“It’s a must to utilize the American Land Title Association’s (ALTA) Best Practices,” said Moran, a 27-year veteran of the title insurance industry. “We follow ALTA’s Best Practices at First International Title. They allow us to adhere to the new regulations imposed by the Consumer Financial Protection Bureau, ultimately protecting our consumers.”
ALTA recently announced its Board of Governors recommended that title professionals take steps to implement ALTA’s “Title Insurance and Settlement Company Best Practices” and conduct a self-assessment no later than September.
After completing the self-assessment, the ALTA Board of Governors also encouraged its organization’s members to use the Compliance Guide to communicate their compliance management program with their lender clients and customers as soon as possible.
“We are fortunate to have an association like ALTA supporting our cause,” said Moran. “During this time of increased regulation and scrutiny of our industry, ALTA has built a blue print for the continued existence of the independent title agent.”