Best Practices Agency
The American Land Title Association (ALTA) has published a list of Best Practices for Title and Settlement Agencies. STA Title & Escrow has made a voluntary decision to adopt the policies and procedures outlined in the Best Practices as a way of setting ourselves apart from others in the title industry. The Best Practices include seven main standards designed to showcase the policies and procedures we use to ensure a positive real estate settlement experience for consumers, lenders, and agents. The Best Practices are as follows:
1. Establish and maintain current license(s) as required to conduct the business of title insurance and settlement services.
2. Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.
3. Adopt and maintain a written privacy and information security plan to protect Non-public Personal Information as required by local, state and federal law.
4. Adopt standard real estate settlement procedures and policies that ensure compliance with Federal and State Consumer Financial Laws as applicable.
5. Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
6. Maintain appropriate professional liability insurance and fidelity coverage.
7. Adopt and maintain procedures for resolving consumer complaints.
By following the Best Practices, STA Title is providing a level of professionalism, service, security and compliance that exceeds industry standards. We are building a solid foundation of trust and confidence that our customers and clients can rely on.