The Best Practices Certification is good for two years and must be performed by a qualified, independent third party that evaluates the title company’s compliance with its Best Practices policies and procedures. Third-party certification establishes that we are adhering to documented operational policies and procedures that reflect compliance with all of the ALTA best practices. It sets a standard of expectations for title companies in the wake of the CFPB’s April 2012 bulletin that mandated mortgage bank lenders monitor their third-party vendors’ compliance with federal consumer financial laws.
We are one of the few title companies in Maryland with this certification. Please let us know if you have any further questions regarding our policies and procedures. We would be happy to discuss our compliance further with you and your offices. You can rest assured that you are using a settlement company that understands and is compliant with the new rules.