ALTA Launches Best Practices FAQ Portal
April 13, 2017
ALTA unveiled a new tool designed to help ensure the industry receives consistent and accurate information about how to interpret certain provisions of ALTA’s Title Insurance and Settlement Company Best Practices.
The Best Practices FAQ Portal allows questions to be submitted about theBest Practices in an effort to gain clarity about the standards. The Best Practices provide guidelines for the policies and procedures title insurance and settlement companies should have in place to ensure they are protecting consumers, their money and their data. However, there is some uncertainty about the ALTA Best Practices that sparks conversations within the industry about how to comply with these standards.
“Our hope is to provide more reliable information that will be helpful to companies when undergoing a Best Practices assessment,” said Michelle Korsmo, ALTA’s chief executive officer. “By ensuring that our industry and Best Practices assessment providers are privy to the same information about the Best Practices, we believe that companies will be in a better position to implement and comply with the ALTA Best Practices.”
Interested parties may submit a question through the FAQ portal. ALTA staff and a team of industry professionals will then consider the question and draft a response. ALTA will publish all answered FAQs here.
Contact ALTA at 202-296-3671 or firstname.lastname@example.org.