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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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Best Practice Questions?

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

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News & Updates

Lender Requirements for Settlement Agents

Lender Requirements for Settlement Agents

Download the Lender Requirements Scale for Settlement Agents, Best Practices Lender Requirements Chart & Recommended Actions for Fund Members

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Authorized Agent Program Available Through Old Republic
12/15/2015

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

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DoubleTime Upgrades and the ALTA Settlement Statement
9/22/2015

Download previews of the new DoubleTime® ALTA Settlement Statement forms. Learn how thi...

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ALTA Best Practices Quick Guide

ALTA Best Practices Quick Guide

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

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Office Security
8/26/2015

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

New CFPB rules require you to work differently to ensure your closings occur without delay. New ALTA resource to assist with counting the three days.

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Sample Completed Policies & Procedures Handbook

Sample Completed Policies & Procedures Handbook

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

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ALTA Best Practices Executive Summary

ALTA Best Practices Executive Summary

ALTA seeks to guide its membership on best practices to protect consumers, promote quality service, provide for ongoing employee training, and meet legal and market requirements.

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ALTA’s Best Practices FAQ

ALTA’s Best Practices FAQ

What are the best practices? ALTA’s Title Insurance and Settlement Company Best Practices are a benchmark for the real estate settlement and mortgage lending industries. They illuminate the high level of professionalism

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ALTA Best Practices Framework

ALTA Best Practices Framework

The ALTA Best Practices Framework has been developed to assist lenders in satisfying their responsibility to manage third party vendors

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