Champion Title & Settlements Proudly Complies with ALTA’s Best Practices
Champion Title has implemented ALTA’s Best Practices to ensure lenders and consumers are protected and have a positive real estate settlement experience.
Pillar 1: “Establish and maintain current licenses(s) as required to conduct the business of title insurance and settlement services.”
- Champion maintains required licenses in each state of operation.
- Champion maintains all local business licenses.
- Champion is an active member of ALTA and utilizes all ATLA forms.
Pillar 2: “Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.”
- All bank accounts are maintained at federally insured financial institutions.
- All employees must pass a background and credit check at hire. Employees with access to escrow funds undergo a yearly credit check.
- Champion utilizes positive pay, automatic clearing house block, and international wire blocks.
Pillar 3: “Adopt and maintain a written privacy and information security program to protect Non-Public Personal Information as required by local, state and federal law.”
- Champion enforces the “Clean Desk” policy.
- Champion uses encrypted email when transmitting Non-Public Information.
- In the event of an emergency, Champion has developed a disaster recovery plan to protect the consumer..
Pillar 4: “Adopt standard real estate settlement procedures and policies to help ensure compliance with Federal and State Consumer Financial Laws as applicable to the Settlement Process.”
- Champion utilizes underwriter rate manuals, online calculators, and internal software.
- Champion E-Records when possible. All recordings are tracked for timeliness by management.
Pillar 5: “Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.”
- Champion’s goal is to provide the consumer the title insurance policy within 30 days of closing.
- Champion remits premiums to underwriter by the last day of the following month after settlement date.
Pillar 6: “Maintain appropriate professional liability insurance and fidelity coverage.”
- Champion maintains required liability insurance for errors and omissions, fidelity and surety bond coverage as required by state law and underwriters.
- Champion requires third party vendors maintain professional liability insurance.
Pillar 7: “Adopt and maintain written procedures for resolving consumer complaints.”
Our staff of dedicated professionals is committed to a standard of service excellence. Champion has implemented a policy and procedure to ensure any issue is documented, reviewed and resolved in a timely manner.