COMPLIANCE WITH ALTA’S BEST PRACTICES
July 27, 2015
Please be advised that as of July 24, 2015, Regal Title Agency has been vetted and fully compliant with the standards set by American Land Title Association’s (ALTA’s) Best Practices framework. A Certificate of Compliance has been issued by Westcor Land Title Insurance Company (our underwriter) in conjunction with McGladrey LLP (a Third Party accounting firm).
This Certification is important because the Consumer Financial Protection Bureau (CFPB) has required lenders to make sure all third party vendors (i.e. attorneys and title insurers) meet certain standards on all loans closed on or after October 3, 2015. The standards have been memorialized by the ALTA Best Practices pillars.
Therefore, ordering title insurance through Regal in the future will not be interrupted because we are now in compliance with the CFPB’s regulatory requirement.Back