ALTA Best Practices Certification
The American Land Title Association (ALTA) created the Title Insurance and Settlement Company Best Practices (ALTA Framework) to help its members highlight policies and procedures that the industry exercises to protect lenders and consumers, while ensuring a positive and compliant real estate settlement experience.
The banking industry supports the ALTA Framework, and some banks have begun to require their settlement agents to implement the ALTA Framework and have their implentation independently certified. GranthamPoole can help see you through the certification process.
Levels of Certification
There are two levels of service we offer to certify compliance with the ALTA Framework.
An examination of a company’s compliance with the ALTA Framework is akin to an audit, and is the highest level of service. In conducting an examination, we read the company’s policies and procedures and compare them to the elements of the ALTA Framework. We also make inquiries of appropriate company personnel, observe related activities, and inspect documents and records with the objective of confirming the company’s assertions about its implementation of the ALTA Framework.
A review of a company’s compliance with the ALTA Framework is less in scope than an examination. Review procedures are limited to reading the company’s policies and procedures and comparing them to the elements of the ALTA Framework and making inquiries of appropriate company personnel regarding the implementation of these policies and procedures.
What is the Cost?
The following presents our standard pricing for an examination or review engagement (exclusive of out of pocket expenses, such as travel or other incidental expenses):
$5,000 - $6,000 (single location)
$1,000 for each additional physical location
$1,800 - $2,000 (single location)
$500 for each additional physical location
Bradford C. Hatchett
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