Certification is Coming! What you need to know about ALTA Best - PowerPoint PPT Presentation

Certification is Coming! — What you need to know about ALTA Best Practices Implementation and Certification By Eugene McCullough Mike Shamblin Matthew Rekers Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 0

Webinar Objectives • Overview “Why are best practices needed?” • State of the title industry and regulatory pressures • ALTA’s response and state of the Best Practices • How are title companies responding? • Discussion on Best Practice Implementation and Self- Assessment • Why should you obtain certification? • Frequently asked questions Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 1

Overview “Why are best practices needed?” • What is the state of the title industry and new the new regulatory pressures? • How has ALTA responded and what is the state of the Best Practices Framework? • How are title companies responding? Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 2

Implementation Key steps needed for a successful implementation: 1) Obtain top-down buy-in. 2) Identify an employee who will be responsible for the Best Practices implementation. 3) Empower that employee with the time and resources to implement the Best Practices. 4) Start small and gain momentum. 5) Ensure that your policies and procedures at a minimum cover the Best Practices Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 3

Self-Assessment Questions to consider: • When is the best time to perform a self- assessment? • Who should perform the self-assessment? • How should the assessment be performed? • Once I have self-assessed, now what? Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 4

Certification What are the benefits for obtaining certification? 1) Protect yourself, your lenders, and your customers 2) Stay in Business 3) Competitive Advantage Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 5

Frequently Asked Questions 1) Where do I get information about ALTA’s Best Practices? 2) What are the costs associated with implementing ALTA’s Best Practices Framework ? 3) Who can perform the certification? 4) When should I get started on the certification process? 5) How much does a certification cost? 6) How long does the certification process take? 7) What should I expect during the certification process? 8) What are the lenders expecting? Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 6

Contact Information Eugene McCullough, J.D. mccullough.eugene@gmail.com PYA: Mike Shamblin, CPA mshamblin@pyapc.com Matthew Rekers, CPA, CIA mrekers@pyapc.com Certification is Coming! — Prepared for PYA’s External Webinar What you need to know about ALTA Best Practices Implementation and Certification Page 7