ALTA Best Practice Compliance
BEST PRACTICES COMPLIANCE
For Residential Real Estate Closing Attorneys
With residential real estate lenders facing increased legal risk and scrutiny, many are holding their closing attorneys to a higher standard and requiring specific documentation to demonstrate that they are following the best practices standards as set forth by the American Land Title Association. HLB Gross Collins, P.C. offers a Compliance Assessment and Remediation Program that allows attorneys to offer independent third-party assurance to banks. Lenders can rely on our CPA attestation report that will ensure that attorneys have taken extra steps to cover all the requirements of the Best Practices standards and minimize risk.
Through our Compliance Assessment and Remediation Program, we review all processes and procedures that are the basics of compliance, as defined by ALTA. This includes:
- Establishing standards and procedures
- Compliance oversight
- Communication and training
- Monitoring and reporting
- Independent review
With initial benchmarking, HLB Gross Collins, P.C. will assess your current situation in order to develop a plan to remedy any gaps or weaknesses. At the completion of the program, you will receive an examination report that we issue in accordance with AICPA standards indicating that you are in compliance with ALTA Best Practices.
In the competitive market of real estate closing attorneys, set your firm apart by giving lenders confidence that your services comply with the ALTA’s stringent procedures that will provide an added level of protection for the lender.
