Stewart to Offer Title Agencies Additional Compliance Safeguard

Stewart Title Guaranty's operations group, which supports the company’s growing network of independent title agencies, has announced in a press release that Deloitte & Touche LLP (Deloitte & Touche) will now offer its compliance attestation to Stewart’s independent title and settlement agents.

Deloitte & Touche will be able to perform an examination on the independent title agency’s management assertion on their compliance with the American Land Title Association (ALTA) best practices guidelines, according to the release. Deloitte & Touche’s examination procedures are based on American Institute of Certified Public Accountants (AICPA) attestation standards leveraging ALTA’s best practices guidelines.

The ALTA best practices guidelines were developed to assist lenders in satisfying their responsibility to manage third-party vendors pursuant to new standards established by the Consumer Financial Protection Bureau (CFPB), and to use as a benchmark for the real estate settlement and mortgage lending industries to help highlight policies and procedures within the industry. The goal of these guidelines is to protect lenders and consumers, while maintaining a positive and compliant real estate settlement experience.

“We hold our network to the highest standards and put each title agency and attorney agent through a rigorous vetting process before they’re welcomed into our network,” said Pat Beall, Stewart Agency Operations group president. “By having the optional ALTA Best Practices Compliance Attestation as part of our process, Stewart further validates the high-quality standards of our network, which lenders and consumers will find of value.”

As a part of Stewart’s Trusted Provider program, an agency or attorney agent must pass an intensive initial due-diligence screening, conduct business according to Stewart’s stringent Trusted Provider Standards, and undergo strict ongoing monitoring, the company said.