Cleveland, Tennessee law firm and title company, Burns, Henry & Kirksey, P.C., (BHK), recently achieved compliance with title industry Best Practices as set forth by the American Land Title Association (ALTA).
BHK chose to pursue certification out of a commitment to their clients, to improve upon the services they offer, and to earn the trust of those with whom they do business. According to Travis D. Henry, attorney and partner with BHK, “We now can assure those with whom we do business that we are compliant with ALTA Best Practices, but we don’t want them to just take our word for it. We want to prove to lenders, realtors, buyers, and sellers that we are committed to the privacy and security of their information, and to offering the highest level of protection and the best closing experience in our community.”
As regulators have recently increased their demands for protective measures throughout title and settlement procedures, ALTA created the Best Practices Framework to help title and settlement agents prepare policies and procedures to protect lenders and consumers. Best Practices certification comes after a rigorous third-party assessment covering all areas of title and settlement services, including licensing, escrow trust accounting controls, privacy and information security, written policies and procedures, liability and fidelity insurance confirmation, and guidelines for customer relationship management.
BHK enlisted the assistance of national certified public accounting and management consulting firm PYA (Pershing Yoakley & Associates, P.C.), ALTA’s first Elite Provider of Best Practices assessments, to perform the third-party assessment and certification.
Henry said, “PYA was our partner as we worked to become compliant with ALTA Best Practices and underwent the certification process. They were our guide through the pillars and helped us structure our business around each one. Their approach shows you how to succeed rather than simply pointing out your deficiencies.”
With this certification, BHK is now poised to demonstrate to consumers, lenders, and the industry its compliance with ALTA Best Practices.
“Buying a home is a critical investment. Anyone buying, selling or refinancing real estate should let their lender and realtor know they want a certified title company handling their closing,” Henry said. “We are ready to make the closing process easy and positive for our community.”