Best Practices Manual Preparation
As most have heard by now, the American Land Title Association (“ALTA”) has created the title and settlement industry standard “Best Practices.” The use and requirement of creating and maintaining a Best Practices Manual will now be required by all title companies, law firms and sole practitioner attorneys conducting real estate transactions. Not only will the title insurance underwriters require the Best Practices Manual of their agents, but lenders you currently conduct business with as well.
While each operation is different, taking on the task of creating a Best Practices Manual by yourself can be a massive undertaking to say the least. Entrust Solutions has created a new service in helping clients create the Best Practices Manual for your specific operation. We will go through the process with you, one-on-one, and create the Best Practices Manual for you.
Entrust will prepare a Best Practices Manual following the Guidelines of ALTA and in compliance with Gramm-Leach Bliley and the Consumer Financial Protection Bureau established under the Dodd-Frank act.
The manual will be customized to reflect the Policies and Procedures of your office. The manual and its content is intended to assist lenders in satisfying their responsibility to third parties.
We will consider ALTA Best Practices Framework for:
- Title Insurance and Company Best Practices
- Assessment Procedures
- Certification Package when compiling the manual
The manual will be prepared based upon the information provided by you. Entrust will offer suggested changes or procedures to comply with the Best Practices standards.
Entrust does not currently offer a Best Practices Certification, but will provide you with a “Self Certification” for the lender.
Contact us today for more information! Take an interest in Entrust.