In accordance with that commitment our company has adopted the “best practices” guidelines set forth by the American Land Title Association in an effort to be in compliance with both the Gramm-Leach Bliley Act and the Consumer Financial Protection Bureau established under the Dodd-Frank Act.
American Land Title Association (ALTA) has created “best practices” that are intended to define a set of strong procedures that the title insurance and settlement companies can follow to protect consumer information and provide higher levels of efficiency. The framework of ALTA’s ‘”best practices” is designed with the expectation that a strong foundation will be established through adherence to the seven distinct pillars outlined in the “best practices” guidelines.
The “best practices” of an industry are methods and techniques that are proven to produce superior results in achieving higher benchmarks. The purpose is to maintain consistent quality that serves as an enhancement to mandatory legislated standards and promote the industries adherence to compliance.
The 7 “best practices” pillars outlined by ALTA and adhered to by our company are as follows: