Passport Title Achieves Third-party Certification of Compliance with ALTA Best Practices
May 24, 2016
Maryland-based Passport Title Services LLC announced it has achieved third-party certification of its compliance with ALTA’sTitle Insurance and Settlement Best Practices from HA&W LLP, a national accounting and business advisory firm offering risk mitigation services to the title industry.
“Passport Title invests significantly in management attention, expertise and budget to ensure that our operating model fully complies with Best Practices,” said John R. H. Cotter, president and chief executive officer. “Certification of compliance from an independent, third party is a market distinction we are proud to achieve and one that demonstrates our unwavering commitment to protecting the interests of lenders, consumers and clients.”
“We were honored to have been chosen by Passport Title to perform their ALTA Best Practices certification based on CPA attestation standards” said Lee Fields, managing director of business consulting services at HA&W. “Passport Title is known as an innovative leader in the title industry that takes compliance very seriously, so our philosophies were aligned from the outset. Their certification provides their lenders, consumers and clients with a high level of assurance that Passport Title’s business is in compliance with ALTA Best Practices.”
Passport Title’s approach to Best Practices implementation and on-going monitoring is based on the company’s industry-first partnership model. Passport Title’s Best Practices program extends to its existing community of title agent partners and to title agencies and individual attorney and lay title agents when they choose to partner with Passport Title.
For example, Passport Title partners access SSAE 16 SOC 2 certified technology regardless of their location, which fulfills many of the Best Practices requirements around privacy and information security. Also, Passport Title deploys a proprietary suite of software tools to measure and monitor key settlement process metrics that are required by Best Practices.
“We help title agencies meet today’s challenges, and Best Practices compliance is arguably one of the bigger ones,” said Cotter. “We offer a Best Practices certified operating platform to title agents who want to strengthen their lender relationships and highlight their professionalism.”
Contact ALTA at 202-296-3671 or [email protected].