Majesty Title completed the assessment process and attained a pass rating for all 7 Pillars included in the compliance benchmarks of ALTA’s Best Practices certification. This is Majesty’s second Certification; it was first certified in 2014. The agency engaged Security Compliance Associates (SCA) to perform the Certification for all seven pillars, which includes the Gramm-Leach-Bliley Act (GLBA) Gap Analysis and the Internal / External Systems Vulnerability Assessment for Pillar 3.
“We chose SCA because of their independence and experience in these types of assessments; in fact, SCA has delivered world class security assessment services for hundreds of financial institutions and healthcare practices, nationwide,” Majesty’s CEO Vincent Cassidy said. “SCA services have exceeded federal compliance requirements for banking regulations and HIPAA compliance mandates…The process was time consuming, (but) it is important to demonstrate to our lender and realtor clients that we take protecting non-public information (NPI) very seriously.”
Since 2014 when Majesty received its first certification, not a week goes by where lenders aren’t asking for its independent certification.
“Lenders will be asking for more assurances from title agencies that they can comply with industry’s Best Practices; independent certifications will eventually become the minimum for title agencies to continue to do business with lenders and therefore be compliant,” Cassidy said.