Our Best Practices

Compliance / Federal Consumer Financial Laws

Maintain current license(s) to conduct the business of title insurance and settlement services, including but not limited to:

  • Compliance with Applicable Business Laws and Regulations
  • Applicable License Documentation Available for Review

Maintain audit procedures and internal controls for all escrow trust accounts, including but not limited to:

  • Underwriter and State Audit Certification
  • Positive Pay, Dual Controls and 3 Way Reconciliation
  • Centralized Reconciliation Process
  • Technology for Online Banking with Appropriate Internal Controls in Place
  • Electronic Verification of Reconciliation

Maintain a privacy and information security plan to protect personal information as required by local, state and federal law, including but not limited to:

  • Clean Desk Policy
  • Procedures in Place for Data/Information Breach
  • Network Security
  • Heightened Protection of Electronically Transmitted Non-Public Personal !􀀋formation

Maintain standard real estate settlement procedures and policies to ensure compliance with Federal and State Consumer Financial Laws, as applicable, including but not limited to:

  • Internal, Underwriter and Trade Association Training Provided to all Staff at Regular Intervals
  • Certification and Tracking of Employee Education
  • Internal File and Quality Control Auditing Performed at Regular Intervals

Maintain procedures related to title policy production, delivery, reporting and premium remittance, including but not limited to:

  • Ensure Timely Recording of Documents
  • Accurate and Prompt Delivery of Final Title Policies
  • Monthly Underwriter Remittance and Policy Reporting

Maintain appropriate professional liability insurance and fidelity coverage, including but not limited to:

  • Fidelity Bond and Surety Bond Coverage Policies
  • Retain a Segregated Loss Reserve
  • Error and Omissions Insurance

Maintain procedures for resolving customer complaints, including but not limited to:

  • Track Communications with Customers
  • Track the Resolution of Complaints