The Fund, through Old Republic, is pleased to announce the availability of our Authorized Agent Program. This program, in conjunction with our Members' efforts to comply with the American Land Title Association's Best Practices, should provide lenders, clients, customers and consumers additional confidence and comfort that the title settlement transactions you process are done the right way, with integrity and ethics.
As a Member of The Fund, you are aware of our strong Risk Management program. We require an annual self-assessment and a certain number of our Members undergo either a desk or office audit each year. Our Risk Management procedures are endorsed by Old Republic National Title Insurance Company (Old Republic).
In the new environment under the "Know Before You Owe" regulations (TRID), lenders are very focused on ensuring that the closing agent handling a loan transaction is responsible and competent. Documenting this is a challenge for the lenders and they each have their own set of rules. Many of you have been struggling with how to comply with lender requests for vetting of your firm or agency, third-party certification of your office procedures and other similar requests.
The Fund, through Old Republic, is pleased to announce the availability of our Authorized Agent Program.
This program, in conjunction with our Members' efforts to comply with the American Land Title Association's Best Practices, should provide lenders, clients, customers and consumers additional confidence and comfort that the title settlement transactions you process are done the right way, with integrity and ethics. The goal is to continue to allow you to "show what you know" and exemplify a high level of trust resulting in a positive experience for all involved in mortgage lending and real estate transactions.
We fully expect the Authorized Agent Program will evolve and improve over the next several months. We will keep you informed as enhancements are made. For now, if you would like to request the Authorized Agent Letter for your use, please request one by email to authorizedagentletter@thefund.com.