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Lender Requirements

Lenders are vetting settlement agents in a wide variety of ways. Make sure your practice meets Best Practices standards and is prepared to address the requirements needed by lenders.

Download Lender Requirements

Suggested actions for Fund Members:

  1. Review your practice and volume with specific lenders.
  2. Review lender requirements with the Bank Requirement Chart, Information Center, and consider setting up Google Alerts for lender updates.
  3. Decide on the level of requirements appropriate for your practice per the Lender Requirement Scale.
  4. If 3rd party certification is needed, ensure AT LEAST 90-day lead time for the review period and 6-8 months to complete.

Lender Requirement Complexity Scale

Find out how difficult it is to obtain different Lender Best Practice requirements. Download the Lender Requirements for more information.

LOW

COMPLEXITY

HIGH

1

Old Republic Authorized Agent Letter

2

Settlement Agent self-certification

3

Copy of Best Practices Manual

4

Settlement agent self-certification with ALTA Certification package

5

Lender-specific requirements E.g. questionnaire, financial statements, business license, E&O, review AfBAs

6

Secure Insight/SSI Vendors Compliance Group

7

3rd-party certification

The 7 Pillars of ALTA's Best Practices

Implementation of a set of industry best practices developed by ALTA can help title professionals meet new market demands by proving regulatory compliance and that funds and information are being protected, which could help capture increased market share.

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On-Demand Training Library Webinars

Video – Building the Pillars of ALTA’s Best Practices Workshop I - Watch Now

Are Lenders asking you for a copy of your Best Practices Policies and Procedures Manual? If so, it’s time to attend Building the Pillars of ALTA’s Best Practices – Workshop I.The workshop is designed to give you a jump-start on the creation and...


Video – Building the Pillars of ALTA’s Best Practices Workshop II - Watch Now

This workshop continues the Fund’s examination of ALTA’s Best Practices, detailing Florida-specific requirements for:Pillar 2 - Escrow / Trust AccountingPillar 4 - Recording & Pricing ProceduresPillar 5 - Title Policy ProceduresAs with Workshop I...


Video – Introduction to ALTA’s Best Practices - Watch Now

As the real estate market continues to recover and the Consumer Financial Protection Bureau creates new rules related to real estate closings, the landscape in which title insurance agents conduct business continues to evolve. The American Land Title Association...


Best Practice Questions?

Email questions to legaled@thefund.com and receive answers from the experts.

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News & Updates

Authorized Agent Program Available Through Old Republic

Authorized Agent Program Available Through Old Republic
10/26/2022

The Fund, through Old Republic, is pleased to announce the availability of our Authorized Agent Program. ...

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Lender Requirements for Settlement Agents

Lender Requirements for Settlement Agents
06/13/2016

Download the Lender Requirements Scale for Settlement Agents, Best Practices Lender Requirements Chart & Recommended...

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DoubleTime Upgrades and the ALTA Settlement Statement
09/22/2015

Download previews of the new DoubleTime® ALTA Settlement Statement forms. Learn how this with affect your...

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ALTA Best Practices Quick Guide

ALTA Best Practices Quick Guide
09/09/2015

A collection of questions and answers to help kickstart creating your Best Practices manual.

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Office Security
08/25/2015

What rules and restrictions do you have in place for your office security?

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ALTA Closing Disclosure Three-Day Chart

ALTA Closing Disclosure Three-Day Chart
07/14/2015

New CFPB rules require you to work differently to ensure your closings occur without delay. New ALTA resource to...

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Sample Completed Policies & Procedures Handbook

Sample Completed Policies & Procedures Handbook
07/13/2015

This Best Practices template represents a sample document that can be downloaded and manipulated to fit the desires...

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ALTA Best Practices Executive Summary

ALTA Best Practices Executive Summary
07/13/2015

ALTA seeks to guide its membership on best practices to protect consumers, promote quality service, provide for...

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ALTA’s Best Practices FAQ

ALTA’s Best Practices FAQ
07/10/2015

What are the best practices? ALTA’s Title Insurance and Settlement Company Best Practices are a benchmark for the...

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