We are an ALTA Best Practices
Certified Company

ALTA-Best-Practices-CertifiedSouthern Title & Escrow, L.L.C. has achieved ALTA Best Practices Certification.

To achieve this level of certification, an on-site examination was conducted by an independent, third party vendor to confirm that the company was in full compliance with each tier of ALTA Best Practices.

Please click here to view or download a copy of our ALTA Best Practices Certification.

The American Land Title Association (ALTA) has set guidelines that they recommend all title companies follow in order to protect you, your money and your private information. These safeguards are known as Best Practices and they are the minimum standard recommended for title companies. Southern Title & Escrow has achieved ALTA Best Practices Certification through a third-party vendor after an onsite examination. You can learn more about Best Practices by visiting www.ALTA.org, clicking on the Resources Tab and then clicking on Best Practices.

Before you choose your title company, know your title company and know whether they are compliant with Best Practices. Although all factors of Best Practices must be met for a company to be considered compliant, we have outlined below a few crucial items that you should highly consider when choosing a title company. Ask your title company whether they do the following:

  • Perform Monthly Three-Way Reconciliations
  • Use Email Encryption for sensitive information
  • Utilize a Positive Pay system for their bank accounts
  • Perform Back ground checks on all employees
  • Implement a clean desk policy
  • Implement the necessary security measures (Are all files kept in locked filing cabinets behind double locked doors? Is a security system used and monitored?)
  • Has the company completed written policies and procedures proving compliance with Best Practices and if so, are they available for viewing upon request?

At Southern Title & Escrow, L.L.C., we always strive to be at the forefront of complying with all federal regulations and industry recommendations. We have fully implemented ALTA’S Best Practices in order to protect you, your transaction and the reputation of our company. We hope that in choosing us, you feel the security and peace of mind that comes with choosing an experienced, local title company who implements the best and most up to date policies while working on industry leading software.

TRID – October 3, 2015

Real estate closings are changing October 3, 2015

The Consumer Financial Protection Bureau has announced that changes will be made to the Loan and Settlement Disclosure Forms for loan applications taken by a lender after October 3, 2015. This new rule has created two new forms – the Loan Estimate and the Closing Disclosure. It has also put in place federally mandated waiting periods from the time the consumer is provided with these forms.

How will this affect you – the homebuyer?

The new federally mandated waiting periods cannot be waived except under very limited circumstances and therefore, this could increase the time it takes to get you to the closing table. Industry leaders are projecting that it will take 45-60 days to close a loan if an application is received after October 3, 2015.

Is there anything you can do to be ready?

As a homebuyer, it is critical that you are not simply going with any title company to close on your home after October 3, 2015. Your title company should be able to demonstrate that it is compliant with Best Practices and that it is trained, prepared and able to accommodate closings in accordance with the new rule. Choosing a title company that is not prepared for the October 3, 2015 changes could prove disastrous for your transaction and may cost you the home of your dreams and costs associated with the attempted purchase of that home.

Is Southern Title & Escrow ready for October 3, 2015?

We absolutely are. We have been preparing for the implementation of the new rule for over one year. We are Best Practices compliant and we have participated in extensive training to prepare our employees for the new rule. In addition, we work on industry-leading software so we have the most up-to-date software and training at our fingertips.

Helpful Forms

At Southern Title & Escrow, we want to provide you with the best service and we are implementing these new regulations and compliance to better serve the needs of our customers.

To help you better understand the new changes for loan applications and how it can affect you as a homebuyer, please refer to these helpful documents.