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LENDERS

The implementation of the TILA-RESPA Integrated Mortgage Disclosure Rule represents the greatest change to the real estate closing process since Truth-in-Lending regulations were passed by Congress in 1968. Fortunately for lenders working with Southern Title, we have made it our mission to understand the new rules, and develop policies and procedures necessary to ensure compliance. Not only have we implemented new robust security measures and successfully completed strict compliance audits, we have spearheaded an extensive education and training presentation series geared toward area REALTORS®, Builders and Lenders. Have questions about providing correct quotes for Owner’s Title Policy and Lender’s Title Policy when simultaneously delivered? Check out our handy checklist. When it comes to the protecting consumers as well as their real estate investments, you can count on Southern Title!

 

Regulatory Compliance  - The Consumer Financial Protection Bureau (CFPB) expects banks to oversee their service providers (including title companies) to ensure compliance with Federal consumer financial laws and to monitor the service providers regularly to ensure continued compliance. Southern Title has worked diligently to create the policies, procedures, internal controls and training protocols to meet lender requirements for Best Practices compliance. To obtain a copy of our Best Practices, please contact our Compliance Department here.

 

Best Practices - The American Land Title Association (ALTA) created Title Insurance Industry Best Practices to highlight the policies and procedures required by the Consumer Financial Protection Bureau to best protect lenders and consumers. Southern Title is proud to have developed and implemented these Best Practices to best serve our customers and protect the integrity of the real estate transaction. To download a brochure detailing Southern Title’s Best Practices, please click here

 

Southern Title is proud to announce it has successfully completed a comprehensive third party assessment of its company practices regarding the protection of customer's personal information and has been awarded an ALTA Best Practices Pillar 3 Certificate of Completion.  

 

The extensive audit, conducted by Security Compliance Associations, demonstrates the company’s commitment to compliance and data security, its adherence to ALTA Best Practices Pillar 3 and applicable Gramm-Leach-Bliley Act (GLBA) and Federal Trade Commission (FTC) requirements. In addition, the certification illustrates the company’s preparation for lender or regulator audits required by the Dodd-Frank Wall Street Reform Act of 2010.

 

With added requirements to protect the privacy of buyers and sellers throughout the real estate transaction, Southern Title has expanded its technology department and is vigilant about securing its customer’s personal, private information. Southern Title has spent the last three years developing policies and procedures that comply with the strict new standards for title companies as well as the Best Practices requirements for lender approval.