Generes & Associates, a consulting firm for title, settlement and escrow professionals, announced the launch of its suite of services designed to assist title companies in achieving compliance with the recently updated American Land Title Association (ALTA) Best Practices Framework version 4.0.
Effective May 23, all assessments, whether first-time assessments or renewals, must utilize the 4.0 framework. This revised version aims to enhance procedures for financial, data security and operational stability procedures, providing assurance to lenders and other stakeholders.
“Adhering to ALTA’s Best Practices 4.0 is particularly vital for the independent agent,” Generes & Associates CEO and founder Edwin Generes said in a release. “They read as plain, common-sense controls, easily implemented, even if only sometimes required by lenders. But their practice speaks directly to the seriousness of protecting both funds and information not meant for the public. A good agent cannot risk their business, their clients’ trust, or their lenders’ trust on even the hint of having cut those corners.”
Generes & Associates’ Best Practices Consulting Services include the preparation of tailored ALTA Best Practices manuals for small to medium-sized title and settlement practices. Features extend to designing alternative procedures that achieve compliance goals. Furthermore, as a liaison between title/settlement agency managers and certification entities, Generes & Associates simplifies and expedites the certification journey, company leaders said.