Smith Phillips has received Certification of adherence to the American Land Title Association's Best Practices by a third party independent auditor. Being “Best Practices Certified” means, as a practical matter, that we, as the real estate closing agent, follow the best industry practices in all areas of operation, specifically meeting the seven standards written by ALTA that represent the best way of conducting business in the area of closings and settlement services.
These standards cover areas such as:
- Company and employee licensing
- Escrow trust account control procedures
- Protecting the non-public personal information of parties as required by local, state, and federal law
- Compliance with federal and state consumer finance laws as they apply to the real estate settlement process
- Title policy production, delivery, reporting, and premium remittance procedures
- Maintain appropriate professional liability insurance and fidelity coverage
- Consumer complaints resolution procedures
In every instance, Smith Phillips meets or exceeds the standards established by ALTA. Our Real Estate attorneys and staff work hard so that the closing process can be as streamlined as possible for those choosing our firm. We take very seriously our duty to protect private non-public information and safeguard the assets entrusted to us throughout this process. Compliance with these best practices means that buyers, sellers, lenders, developers, and real estate agents can be assured that our firm provides a high level of service throughout the closing.