The American Land Title Association has created a set of best practices (“ALTA best practices”) regarding the settlement of real estate transactions. The ALTA best practices are designed to promote client protection and increase transparency in our industry. Ewing Law Center full supports and adopts these best practices.
The ALTA best practices are:
- Establish and maintain current License(s) as required to conduct the business of title insurance and settlement services.
- Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.
- Adopt and maintain a written privacy and information security program to protect Non-public Personal Information as required by local, state and federal law.
- Adopt standard real estate settlement procedures and policies that help ensure compliance with Federal and State Consumer Financial Laws as applicable to the Settlement process.
- Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
- Maintain appropriate professional liability insurance and fidelity coverage.
- Adopt and maintain written procedures for resolving consumer complaints.