During the June 19th Board of Governors meeting, ALTA approved a motion encouraging members to conduct a self-assessment of their adoption of ALTA’s “Title Insurance and Settlement Company Best Practices” no later than September 2014. “An ongoing compliance management program is essential to protecting the integrity of the real estate transaction,” said Michelle Korsmo, ALTA’s chief executive officer. “Reducing settlement risk and safeguarding consumer money has always been a keystone of the title and settlement business.”
SME’s first step in working towards Best Practice 3 compliance is performing a pre-assessment, which coincides with the approach ALTA’s Board of Governers is encouraging. SME will forward a comprehensive questionnaire to the agent, when the agent has completed the questionnaire SME will review and prepare the beginning of a road-map towards Best Practice 3 compliance. Once the road-map is in place the agent will have a better understanding of what needs to be done and how to budget. Each agent I have worked with says that completing this questionnaire and having a plan in place has made all the difference for them.
Call SME TODAY to get started!
