Direct Title Solutions Receives Certification to ALTA’s Best Practices
March 17, 2016
Winchester, Va.-based Direct Title Solutions lnc. announced it received a third-party certification demonstrating compliance with the American Land Title Association’s (ALTA) Title Insurance and Settlement Company Best Practices.
“This certification demonstrates Direct Title Solutions, is committed to providing superior title services and has internal procedures and policies in place to protect both creditors and consumers, ensuring positive and compliant real estate closing experiences,” said Bryan Marion, president of Direct Title Solutions.
Recent regulations hold creditors liable for any deficiencies in a title company’s protection of consumer information. As a result, creditors are reviewing their relationships with service providers and becoming more sensitive to the types of companies with which they do business. To help creditors, ALTA created the Best Practices Framework to assist title and settlement agents prepare policies and to protect creditors and consumers.
Increasingly, title companies are electing to obtain certification in order to stay competitive and compliant in the marketplace. According to Marion, Direct Title Solutions opted for the highest level of certification—an on-site examination by an independent third party. Direct Title Solutions contracted with the certified public accounting and consulting firm PYA (Pershing Yoakley & Associates). PYA reviewed Direct Title Solutions’s, ALTA Best Practices and tested all its procedures and protocols.
“Direct Title Solutions made the decision to invest in this third-party process in order to reinforce our sound business practices and our long-standing commitment to being a trusted real estate settlement partner,” said Marion. “We chose PYA to perform our third-party ALTA Best Practices Certification because of their knowledge of the title industry and their experience with Best Practices Certifications. During our certification process, PYA displayed a high level of professionalism and customer service. The on-site testing was thorough and detailed, which provides us a high level of comfort with day-to-day operations. Few title companies choose to spend the money or resources required to obtain certification. Direct Title Solutions, Inc., believes protecting its customer information is worth the investment of time and resources in order to enhance its policies and systems. We are very committed to our customers and want to provide the highest level of assurance to creditors so all transactions can be securely placed with confidence at our business.”
Achieving ALTA compliance meant investing in technology and security upgrades as well as ongoing employee training. “This ALTA Best Practices certification reflects our commitment to the industry, our brand, and most importantly, our customers,” Marion added. “It also complements our robust growth over the last few years. It will further solidify current relationships and open doors to many others.”
Contact ALTA at 202-296-3671 or [email protected].