The most important goal of undergoing an ALTA Best Practices Assessment is to achieve ALTA Best Practices Compliance. Title agents and settlement companies that want to attain this certification should take steps to help ensure their readiness. But what does such preparation entail? Watch as Stephen Riggs describes three ways in which title [...]
For years, lenders have felt pressure from regulatory organizations, such as the Consumer Financial Protection Bureau (CFPB) and Office of the Comptroller of the Currency (OCC), to demonstrate that they exercise oversight in how their title agents treat their consumers. Thus, ALTA created a set of best practices that lenders can use as a compliance [...]
The women’s heptathlon is one of the most grueling events of the Olympics. Heptathletes compete in seven events – including the 100-meter hurdles – to display their athletic prowess and be named the world’s best all-around athlete. The number of points earned by athletes in each event is based on how well they perform compared [...]
You may have heard of ALTA Best Practices compliance, but what does it mean for your company operations? And how do you start the compliance process? Watch as Jon Heath discusses key steps to becoming ALTA-compliant.
Of the seven ALTA Best Practices pillars, there is one that relates directly to information security and privacy. Watch David Mills as he explains how companies can adequately address this pillar to maintain ALTA compliance.
Title companies, settlement companies, title agents, closing attorneys, closing agents, and real estate settlement attorneys or professionals (collectively referred to herein as “title agents”) across the United States are assessing whether they are ready for game time. In this case, “game time” means successfully implementing the American Land Title Association (ALTA) Best Practices Framework: Title [...]
As Dr. Seuss says in his famous book, Oh, the Places You’ll Go!, “Today is your day. You're off to Great Places! You're off and away!” By following ALTA’s Best Practices, you too can be off and away! Lenders routinely work with title insurance companies, settlement companies, title agents, closing attorneys, closing agents, and real [...]
Title companies, settlement companies, title agents, closing attorneys, closing agents, and real estate settlement attorneys or professionals (collectively referred to herein as “title agents”) looking for a competitive edge in the mortgage lending game now have a powerful switch-hitter to add to the line-up: certification of compliance with American Land Title Association Best Practices Framework: [...]
Obtaining and Understanding a CPA Attestation Assessment Report on Your ALTA Best Practices Compliance
Attaining CPA assurance is an important step in achieving ALTA Best Practices compliance. However, because the Consumer Financial Protection Bureau (CFPB) has not yet issued a public statement in support of ALTA Best Practices, there may be some confusion regarding whether obtaining an attestation certification report to verify ALTA Best Practices compliance satisfies the CFPB’s [...]
In the aftermath of high-profile security breaches, such as a cyber-heist that affected 100 banks in 30 countries, tighter data security is likely to be on the roster for every lender. Every day, lending institutions necessarily collect and store significant amounts of personally identifiable information, personal private information, personal private data, and non-public personal information [...]
In the competitive world of residential mortgage lending, title companies, settlement companies, title agents, closing attorneys, closing agents, and real estate settlement professionals (collectively referred to herein as “title agents”) must perform at the top of their game, which means using the best equipment available. Thanks to the American Land Title Association (ALTA), title agents [...]
In the race for the most polished resume in the title industry, organizations that comply with and are certified in the American Land Title Association (ALTA) Best Practices Framework: Title Insurance and Settlement Company Best Practices (“ALTA Best Practices” or the “Framework”) have a competitive advantage—and the type of engagement and procedures performed matter to [...]