As a benchmark for the mortgage lending and real estate settlement industry, the American Land Title Association (also know as, ALTA) published the Best Practices policy on Wednesday, January 2, 2013. Their goal is to “guide its membership on best practices to protect consumers, promote quality service, provide for ongoing employee training and to meet legal and market requirements”. The policy contains seven areas of focus, ranging from proper licensing and insurance requirements to how customer complaints are handled.
Evans Title Agency, Inc. views the Best Practices policy as the forthcoming wave of the industry. The policy will hold licensed title agents and settlement companies to a higher standard and will almost certainly be required to stay competitive in nearly all markets. These practices are voluntary; however the degree of professionalism they’ll illustrate to consumers and clients will almost certainly become the new standard for the real estate settlement industry.
Taking the policy very serious, Evans Title Agency, Inc. is currently working towards a complete publication of how they go above and beyond meeting the seven areas outlined by the ALTA Best Practices policy. We encourage you to visit www.alta.org and familiarize yourself with the new policy. Please feel free to contact us with any questions you might have.