Champion Title proudly complies with ALTA’s best practices and is officially certified by PYA, a certified public accounting and consulting firm recognized as the first Elite Provider to offer ALTA Best Practices Assessments. Champion Title has implemented ALTA’s Best Practices to ensure lenders and consumers are protected and have a positive real estate settlement experience.
Below are the standards that we adhere to as a company as recommended by ALTA:
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 ALTA 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.