Title Co-Op Helps Agents Manage Costs, Stay Independent

CEO Richard Kopelman of Aprio, LLP was recently quoted in this article on “Origination News”

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HA&W’s ComplianceSuccess Program Completes Testing on Title Agents Across the U.S. on ALTA Best Practices

Companies demonstrate compliance with ALTA Best Practices pillars

 Atlanta, Georgia (PRWEB) October 06, 2015

HA&W, LLP announced today that an additional 25 firms have achieved ALTA Best Practice compliance through HA&W’s ComplianceSuccess® Program.

Each firm’s compliance testing and attestation reporting was conducted by the independent accounting firm of HA&W through its ComplianceSuccess Program. HA&W was the first CPA firm in the nation to perform ALTA Best Practices compliance benchmarking, readiness and reporting services across all seven ALTA Best Practices Pillars. The program delivers independent third-party assurance using CPA professional standards, which provide greater confidence to lenders.

HA&W provides multiple compliance offerings, including reviews, examinations, as well as SOC 1 and SOC 2 reports and ISO 27001 certifications to accommodate specific lender requirements. A review provides a level of assurance best suited for businesses with fewer than 300 residential closings per year and one to two escrow accounts. An examination report provides a level of assurance suitable for businesses with over 300 residential closings per year and three or more escrow accounts.

Firms that have completed a review include:
  • Advantage Closing & Escrow, Inc. and Advantage Title Abstract Company, Inc.
  • Battles, Furgerson & Associates, LLC
  • Bird, Cofield & Moise, LLC & Red Oak Title Company, LLC
  • Crown Title Corporation
  • Cumberland Title & Guaranty Company, LLC
  • First Excel Title, LLC
  • J. Calvin McBride & Associates, PC
  • James D. Benefield III, Attorney at Law
  • Joel S. Jenkins, Jr., Attorney at Law
  • Lakeforest Title & Escrow Co., Inc.
  • Lakhiani Law, PLLC
  • Law Office of Chris Albanese, LLC
  • Partnership Title Company, LLC
  • Riley, Caldwell, Cork & Alvis, P.A.
  • Saddle Creek Title, LLC
  • Single Source Real Estate Services, Inc. & Charter Title, LLC
  • Stein & Associates, LLC
  • TitleSave Agency, Inc.
  • Walter W. Arnall, LLC
Firms that have completed an examination include:
  • Aldridge Connors, LLP
  • Crescent Title, LLC
  • Ianniello Anderson, P.C. and Northway Title Agency, Inc.
  • The Judicial Title Insurance Agency, LLC
  • O’Kelley & Sorohan, Attorneys at Law, LLC
  • PGP Title

“Becoming compliant with ALTA Best Practices is a critical step for title and settlement professionals to take as the title industry continues to become more regulated,” said Lee Fields, managing director of HA&W’s ComplianceSuccess Program. “By choosing a CPA attestation report, the companies that have demonstrated compliance with ALTA Best Practices are leading the industry in providing their lenders and stakeholders a higher level of assurance by proactively addressing their internal operations to mitigate operational risk.”

For more information about HA&W’s ComplianceSuccess Program, visit http://www.compliancesuccess.com or call 1-844-848-6529.

About HA&W’s ComplianceSuccess® Program: 
Working with more than 300 title agents and settlement firms nationwide on ALTA Best Practices testing and reporting, HA&W, LLP is the leading CPA firm in the nation to provide ALTA Best Practices compliance benchmarking, readiness and certification reporting through its ComplianceSuccess Program. The program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in five business days. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices Pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, the AICPA, underwriters and most important, our clients.

HA&W’s ComplianceSuccess® Program Partners with WFG as Trusted Partner for ALTA Best Practices Certification

HA&W’s ComplianceSuccess Program offers WFG agents comprehensive testing and reporting across all seven ALTA Best Practices pillars

HA&W, LLP, the largest Georgia-headquartered tax, accounting and business consulting firm, announced today that, through its ComplianceSuccess Program, the firm has been named a trusted partner by WFG, offering cost-effective ALTA Best Practices benchmarking, testing and reporting options to WFG title agents.

Through its ComplianceSuccess Program, HA&W was the first CPA firm in the nation to perform ALTA Best Practices compliance benchmarking, readiness and reporting services across all seven ALTA Best Practices pillars. The program provides certification through independent third-party attestation using CPA professional standards, which provide the greatest level of assurance available to banks. Banks have historically looked to CPA attestation to mitigate business risk, which can be applied to independent title agents to ensure compliance with ALTA Best Practices.

Due to the variety of WFG’s agents, the underwriter requires a partner that understands how to best execute compliance testing for both large title agents with complex operations as well as smaller agents with less complex operations. HA&W has tailored its testing and reporting options to suit the compliance needs and requirements of both large and small title agents. Today, the firm works with over 275 title agencies across the nation.

“As a company, WFG is embracing the relationship with HA&W’s ComplianceSuccess Program. We want to ensure that our title agents have the education and resources they need to become compliant with ALTA Best Practices,” said Charles Cain, executive vice president at WFG. “We are confident that HA&W’s ComplianceSuccess Program will provide our agents with the most up-to-date industry insights, a high level of client service and an approach that fosters minimum business disruption while providing the highest levels of assurance throughout the process.”

“HA&W has been at the forefront of ALTA Best Practices compliance since its inception nearly two years ago. We keep our fingers on the pulse of the industry through deep ties with ALTA, the AICPA, our underwriter partners and most important, our clients,” said Lee Fields, managing director of HA&W’s ComplianceSuccess Program. “This partnership demonstrates that WFG understands the importance of receiving an ALTA Best Practices certification from an independent third party, backed by CPA standards, and the value HA&W’s industry experience brings to their agents.”

WFG title agents can get compliant with confidence knowing that HA&W is the only CPA firm that is both an ALTA Elite Provider and sits on the ALTA Best Practices Task Force. In addition, the ComplianceSuccess Program pledges to charge for only the incremental work necessary to reissue a report if ALTA changes its Best Practices Assessment Procedures within six months of the issuance of a HA&W report.

About HA&W’s ComplianceSuccess® Program:
Working with hundreds of companies nationwide on ALTA Best Practices testing and reporting, HA&W, LLP is the leading CPA firm in the nation to provide ALTA Best Practices compliance benchmarking, readiness and certification reporting through its ComplianceSuccess Program. The program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in five business days. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices Pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, the AICPA, underwriters and most important, our clients.

HA&W’s ComplianceSuccess Program Announces Safety Net for Title Agents

Firm’s promise protects its agents from uncertainty of ALTA Best Practices compliance

Atlanta, Georgia (PRWEB) August 11, 2015

Title agents who partner with HA&W, LLP’s ComplianceSuccess Program are facing a unique challenge as the title and settlement industry evolves its policies and procedures. That is why HA&W has announced that it will provide its title-agent clients with a financial safety net for their compliance reports.

ComplianceSuccess provides the title and settlement industry reporting options to demonstrate compliance with American Land Title Association (ALTA) Best Practices, either by a review, an examination or a Service Organization Control (SOC) report. The accounting firm is pledging to charge for only the incremental work necessary to reissue a report if ALTA changes its Best Practices Assessment Procedures within six months of the issuance of a HA&W report. The firm will also refund a report fee if a lender rejects a client’s report within 90 days of issuance and requires that the client obtain a new report from another CPA firm.

HA&W is the first advisory services firm to offer this commitment, which protects its agent-clients from the continued uncertainty in the world of ALTA Best Practices compliance.

“Title and settlement professionals are facing uncertainty in the market today as they strive to understand the CFPB compliance requirements and maintain compliance with their lender’s guidelines. In response, HA&W is providing a commitment to their clients. We are extremely confident that lenders will accept our examination or review report,” said Lee Fields, managing director of HA&W’s Business Consulting Services.

“As national and regional lenders continue to provide guidelines to their third-party providers on how to comply with CFPB regulations, we are seeing the urgency of title and settlement professionals to become compliant with ALTA’s Best Practices Framework increase,” adds Fields. “By offering review, examination and SOC reporting options, we are providing title and settlement professionals of all sizes with a report that fits their needs and risk profile.”

For more details about a review, examination or HA&W’s commitment to clients, visit http://www.compliancesuccess.com or dial 1-844-848-6529.

About HA&W’s ComplianceSuccess® Program:

Habif, Arogeti & Wynne, LLP (HA&W) is the leading CPA firm in the nation to provide ALTA Best Practices compliance benchmarking, readiness and certification reporting through its ComplianceSuccess Program. HA&W’s ComplianceSuccess Program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in three to five business days. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices Pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, AICPA and the Mortgage Bankers Association.

HA&W’s 2015 ComplianceSuccess Survey Reveals Title and Settlement Industry Divided Over How to Address ALTA Best Practices Compliance

Atlanta, Georgia (PRWEB) July 08, 2015

HA&W, LLP, the largest Georgia-headquartered tax, accounting and business consulting firm, announced today the results of the firm’s second annual ComplianceSuccess Survey. The 2015 ComplianceSuccess Survey sought to understand how title and settlement professionals are addressing ALTA Best Practices compliance.

The 2015 survey looked at title and settlement professionals’ attitudes and perceptions about compliance, as well as gauged where companies are in the process of becoming compliant. It also dug into the challenges businesses are facing when becoming ALTA Best Practices compliant.

Highlights from the survey include:

  • Larger companies viewed the ALTA Best Practices Framework in a much more positive light than smaller companies.
  • Large companies were more than six times as likely as small companies to have started completing the ALTA Best Practices pillars.
  • Respondents overwhelmingly chose Security Awareness & Disaster Recovery Management as the ALTA Best Practices component that costs the most time and most money to complete.
  • Smaller companies believe that they should not be held to the same standard as larger companies, while larger companies believe that companies large and small alike should be held to the same standard.
  • Half of those respondents who utilized a third party to assess their current level of compliance chose to partner with CPA firms.

“National and regional institutions like Wells Fargo, SunTrust, BancorpSouth, IBERIABANK and Trustmark have been announcing their compliance guidelines for their third-party partners,” said Lee Fields, managing director of Business Consulting Services at HA&W. “Guidelines currently range from requiring completed self-assessments to certifications by independent third parties by certain dates.”

The results of the 2015 ComplianceSuccess Survey indicate that most title and settlement professionals have started down the road to ALTA Best Practice compliance, though questions still linger, with companies in all phases of compliance from assessment to testing. In addition, it’s clear that the industry has accepted the ALTA Best Practices Framework as a solution to compliance with consumer financial laws.

HA&W’s second annual ComplianceSuccess Survey was conducted in March and April of 2015. The survey included over 200 companies located across the nation which ranged in size from less than 100 residential closings per year to more than 10,000 residential closings per year.

For a copy of the full survey report, click here .

About HA&W’s ComplianceSuccess® Program:

Habif, Arogeti & Wynne, LLP (HA&W) is the leading CPA firm in the nation to provide ALTA Best Practices compliance benchmarking, readiness and certification reporting through its ComplianceSuccess Program. HA&W’s ComplianceSuccess Program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in three to five business days. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices Pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, AICPA and the Mortgage Bankers Association.

Paul Roberts Joins HA&W as Director of Firm’s ComplianceSuccess® Program

Roberts’ deep knowledge of title and settlement professionals will create more efficient compliance experience

HA&W, LLP, the largest Georgia-headquartered tax, accounting and business consulting firm, announced today that Paul Roberts has joined the firm as Director of HA&W’s ComplianceSuccess® Program.

Roberts joins HA&W’s ComplianceSuccess practice with 20 years of title industry experience, 17 years of which were spent working with one of the country’s largest title insurance underwriters. Roberts has specialized experience, with a focus on escrow accounting with respect to compliance, operations, risk assessment & ERM, process improvement, due diligence, strategic management and SOX.

“Working with title agent clients to independently deliver efficient, value-added ALTA Best Practices review and examination services that are second to none is our goal at HA&W,” said Roberts. Roberts’ years working closely with title insurance and real estate settlement professionals give him a unique perspective that enables him to proactively identify issues and challenges industry professionals face as they go through the compliance process. “Conducting consultations with agent clients and providing solutions that are tailored to meet their individual business needs is critical to delivering best-in-class service and laying the foundation for success,” Roberts added.

“HA&W’s ComplianceSuccess Program has continued to experience significant growth. With this growth, we have increased our focus on operational insights and have found that deep industry experience is critical for sustained success,” said Lee Fields, Managing Director of Business Consulting Services at HA&W. “Paul will be assuming daily operational responsibility for the practice, with an initial concentration on enhancing our delivery capabilities, creating an even more efficient compliance process for clients as they go through ALTA Best Practices testing and reporting.”

HA&W, through its ComplianceSuccess Program, is the leading CPA firm in the nation to perform ALTA Best Practices compliance benchmarking and assurance reporting services. The program provides title and settlement professionals with comprehensive testing and reporting options, from an assessment of the current level of compliance to CPA attestation reporting through a review or examination engagement, across all seven ALTA Best Practices pillars.

For more information about HA&W’s ComplianceSuccess Program, call 770-353-5318.

About HA&W’s ComplianceSuccess Program:

HA&W is the first CPA firm in the nation to perform ALTA Best Practices compliance benchmarking and assurance reporting services through its ComplianceSuccess Program. HA&W’s ComplianceSuccess Program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in three to five business days. In addition, HA&W performs compliance attestation services to verify compliance and will provide you with a CPA attestation report so that you can demonstrate compliance to lenders. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, the AICPA and the Mortgage Bankers Association.

TitleSave Agency, Inc., an Early Adopter in New York, Demonstrates Compliance with ALTA Best Practices Through HA&W’s ComplianceSuccess Program

Atlanta, Georgia (PRWEB) June 09, 2015

TitleSave Agency, Inc. announced today that it is one of the first title agents in New York to pass American Land Title Association’s (ALTA) Best Practices compliance testing. TitleSave, a growing, Long Island-based title insurance agent, chose to be an ALTA Best Practices leader to demonstrate TitleSave’s commitment to lender customers as they implement effective third-party risk management procedures required by the Consumer Financial Protection Bureau. TitleSave Agency understands the importance and impact of the regulatory changes that are occurring within the title industry and is dedicated to staying at the forefront of compliance.

A recent survey conducted by HA&W’s ComplianceSuccess Program of title and settlement professionals found that large companies are six times more likely than other companies to have started the process of becoming compliant with ALTA Best Practices pillars. “TitleSave is leading the way among agents by stepping up and getting compliant with ALTA Best Practices, and we expect to see a wave of companies of similar size follow suit as financial institutions like Wells Fargo, Suntrust and BancorpSouth have begun to announce their compliance guidelines for third-party partners,” said Lee Fields, managing director of Business Consulting Services at HA&W.

“Partnering with a CPA firm to get compliant with ALTA Best Practices provides lenders, attorneys and my other clients with a greater level of assurance than working with other companies providing ALTA Best Practices certifications today,” said Stephen Woods, president of TitleSave Agency. “Financial institutions already trust, and are familiar with, the professional standards and reports provided by CPAs. For us, the decision to work with HA&W’s ComplianceSuccess Program was an easy one.”

HA&W, through its ComplianceSuccess Program, is the leading CPA firm in the nation to perform ALTA Best Practices compliance benchmarking and assurance reporting services. The program provides title and settlement professionals with comprehensive testing and reporting options, from an assessment of the current level of compliance to CPA attestation reporting through a review or examination engagement, across all seven ALTA Best Practices pillars.

For more information about HA&W’s ComplianceSuccess Program, visit http://www.compliancesuccess.com or call 770-353-5318.

About HA&W:

HA&W is the first CPA firm in the nation to perform ALTA Best Practices compliance benchmarking and assurance reporting services through its ComplianceSuccess Program. HA&W’s ComplianceSuccess Program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in three to five business days. In addition, HA&W performs compliance attestation services to verify compliance and will provide you with a CPA attestation report so that you can demonstrate compliance to lenders. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, the AICPA and the Mortgage Bankers Association.

HA&W’s Compliancesuccess® Program Partners with Old Republic Title as a Preferred Vendor for its Title Agents for ALTA Best Practices Compliance

HA&W’s ComplianceSuccess® Program offers Old Republic Title agents comprehensive testing and reporting across all seven ALTA Best Practices Pillars

ATLANTA- April 29, 2015 – Habif, Arogeti & Wynne, LLP (HA&W), the largest Georgia-headquartered tax, accounting and business consulting firm, announced today that the firm, through its ComplianceSuccess Program, has partnered with Old Republic Title as a preferred vendor for the most cost effective and efficient ALTA Best Practices compliance benchmarking and reporting services available in the market.

HA&W, through its ComplianceSuccess® Program, is the first CPA firm in the nation to perform ALTA Best Practices compliance benchmarking, readiness and reporting services across all seven ALTA Best Practices Pillars. The program provides independent third-party assurance using CPA professional standards, which provide greater assurance to banks than a certification report. Just as banks have historically looked to CPA attestation to mitigate business risk, lenders can now be assured that independent title agents are compliant.

“The urgency is growing around ALTA Best Practices compliance, as banks are beginning to provide guidance across the compliance spectrum, from self-administered “gap” assessment recommendations to mandated third-party certification by Aug. 1, 2015,” said Richard Kopelman, managing partner of HA&W. “Now is the time to begin the process to become compliant, and as a preferred vendor partner for Old Republic Title, agents can look to us to provide them with the CPA assurance that their lender clients will require.”

HA&W and Old Republic Title will collaborate to provide Old Republic Title agents the ability to assess their current level of compliance against ALTA Best Practices and obtain a gap analysis and remediation plan in a fraction of the time someone can perform a self-assessment. Once any deficiencies are remediated, HA&W’s ComplianceSuccess Program will perform ALTA’s Best Practices assessment procedures to give assurance that they are compliant.

“HA&W’s ComplianceSuccess Program is a great solution for those title agents seeking an independent, third-party review of their ALTA Best Practices in addition to the verification and continuous assessment Old Republic Title’s industry leading Agency Risk Management & Mitigation (ARMM) programs provide,” said Jeff Bluhm, Executive Vice President of Agency Services & Administration at Old Republic Title.

 

About HA&W’s ComplianceSuccess® Program:

Habif, Arogeti & Wynne, LLP (HA&W) is the leading CPA firm in the nation to provide ALTA Best Practices compliance benchmarking, readiness and certification reporting through its ComplianceSuccess Program. HA&W’s ComplianceSuccess Program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in three to five business days. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices Pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, AICPA and the Mortgage Bankers Association.

Habif, Arogeti & Wynne, LLP Partners With AICPA To Develop ALTA Best Practices Reporting Standards

Guidance ensures consistency on how compliance is reported and assurance given

ATLANTA- April 28, 2015 -The American Institute of Certified Public Accountants (AICPA) today issued guidelines for CPAs who perform attestation and compliance reporting services to verify if a title and settlement professional complies with the American Land Title Association’s (ALTA) Best Practices Framework.  For over a year, HA&W’s ComplianceSuccess® Program has partnered with ALTA and the AICPA to develop ALTA Best Practices reporting guidelines to provide the industry independent and objective third-party standards for CPAs reporting on the framework.

In 2012, ALTA stepped into the forefront and established Best Practices for the industry and developed a third-party compliance reporting package that title and settlement professionals could provide to their lender clients to demonstrate that they were ALTA Best Practices compliant.

Today, a self-assessment and certification package is available on the ALTA website that can be completed by any third party, but is not backed by professional standards.  HA&W recognized the need for more stringent standards around testing and reporting on ALTA Best Practices and took their concerns to ALTA and the AICPA.

Since early 2014, HA&W has been collaborating with ALTA and the AICPA to develop reporting standards that must be followed by CPAs performing compliance testing and reporting to give assurance on compliance with the ALTA Best Practices Framework, including reports with varying levels of assurance depending on the lender’s risk management policies.

“HA&W’s early engagement was valuable in helping ALTA and the AICPA develop guidance for CPAs that conduct third-party assessments of title companies for compliance with the ALTA Best Practices,” said Michelle Korsmo, CEO of ALTA. “ALTA will continue to work with the lending community as it adopts the ALTA Best Practices as the industry’s compliance standard and make it part of title and settlement compliance management programs.”

“The AICPA’s guidance will provide a uniform reporting framework for the CPA community to ensure that all CPAs perform ALTA Best Practices compliance testing and reporting in the same manner and in accordance with AICPA professional standards,” said Lee Fields, managing director of HA&W’s ComplianceSuccess Program.

“AICPA has taken an important step in developing guidance in support of ALTA’s Best Practices,” said John Hollenbeck, executive vice president, First American Title Insurance Company. “This guidance benefits title agencies by encouraging the development of a broader market for CPA examination or review engagements.”

The guidance released by the AICPA on Thursday provided details of the standards that must be followed by CPAs performing work in these areas.  The guidance addressed “the types of engagements a practitioner may perform, the applicability to an attest engagement, the sustainability of criteria, the nature of examination or review procedures and the form and content of the report.”

“We are pleased to see the CPA community providing professional standards that can be relied upon by mortgage lenders for compliance and testing of the ALTA Best Practices”, says Erika Meinhardt, president of National Agency Operations for FTNG. “By engaging a CPA directly, agents can ensure independence of the assessment relationship and process, which is important to many lenders.”

HA&W’s ComplianceSuccess Program, an ALTA Elite Provider, is committed to providing title and settlement professionals with the highest levels of assurance and being backed by professional standards assures that title and settlement professionals receive the reports their lenders require.

 

About HA&W’s ComplianceSuccess® Program:

Habif, Arogeti & Wynne, LLP (HA&W) is the leading CPA firm in the nation to provide ALTA Best Practices compliance benchmarking, readiness and certification reporting through its ComplianceSuccess Program. HA&W’s ComplianceSuccess Program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in three to five business days. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices Pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, AICPA and the Mortgage Bankers Association.

# # #

Media Contact

Kayla Payne
kayla.payne@hawcpa.com or 770-353-5345

 

Single Source Real Estate Services, Inc. and Charter Title, LLC Recognized as Among First Firms in North Carolina to Receive a Review Report Demonstrating Compliance with ALTA Best Practices through Habif, Arogeti & Wynne, LLP’s ComplianceSuccess® Program

Program provides comprehensive testing and reporting services on compliance across all seven ALTA Best Practices Pillars

ATLANTA- April 8, 2015 – Single Source Real Estate Services, Inc. (Single Source), a real estate settlement company that provides non-legal support services to real estate closing attorneys, and Charter Title, LLC, a title company that has been providing title services to southeastern North Carolina’s real estate market since 2007, announced today that they are among the first firms in North Carolina to pass compliance testing with the American Land Title Association’s (ALTA) Best Practices Framework and receive a review attestation report demonstrating compliance from HA&W.

In 2012, the Consumer Financial Protection Bureau (CFPB) created requirements that mortgage lenders have an effective process in place for managing the risk of their third-party service provider relationships, including settlement attorneys and title agents.  ALTA developed its Best Practices Framework as a solution to enable mortgage lenders across the country to meet the regulatory requirements of the CFPB.  HA&W’s ComplianceSuccess Program provides attorneys, settlement companies and title agents with comprehensive testing and reporting services from an assessment of the current level of compliance to CPA attestation reporting through a review or examination engagement.  This provides mortgage bank lenders the assurance they need to continue to do business with these title and settlement professionals.

Single Source and Charter Title have been tracking the development of ALTA Best Practices for over a year and have consistently modified their policies and procedures to meet the requirements of the ALTA Best Practices Framework.  When it was time for benchmarking, testing and reporting on their compliance, they recognized that working with an independent and objective third party with professional standards to perform their review was a critical part of the process.

“Having a CPA perform a review of a company’s policies and procedures provides more credibility to the compliance report based on ALTA Best Practices Framework,” said Tony Chavonne CPA, President of Single Source Real Estate Services. “I believe that in the future all lenders will require that their service providers provide them with a CPA review or examination report.”

In addition, Single Source is requiring that all the attorneys that the firm works with receive testing and reporting on their compliance with ALTA Best Practices from HA&W.  ALTA Best Practices require settlement companies to also vet the attorneys they work with to ensure they are ALTA Best Practices compliant as well.

“Some settlement companies use outside attorneys to perform legal services in connection with real estate closings on residential properties,” said Lee Fields, managing director of HA&W’s ComplianceSuccess Program. “To mitigate risk for the consumer and the lender, Single Source and Charter Title are taking a firm stand by being among the first to obtain compliance with ALTA’s Best Practices and to require the attorneys they work with to do the same.”

For more information about HA&W’s ComplianceSuccess Program, visit www.compliancesuccess.com or call 1-844-848-6529.

 

About Habif, Arogeti & Wynne, LLP:
Habif, Arogeti & Wynne, LLP (HA&W) is the first CPA firm in the nation to perform ALTA Best Practices compliance benchmarking and assurance reporting services through its ComplianceSuccess® Program. HA&W’s ComplianceSuccess Program provides independent third-party assurance using CPA professional standards on attestation reporting, trusted by banking and financial institutions. Our fast track approach will assess your current level of compliance and provide you with a remediation plan in three to five business days. In addition, HA&W performs compliance attestation services to verify compliance, and will provide you with a CPA attestation report so that you can demonstrate compliance to lenders. Our process delivers the best price point to achieve compliance, offering complete compliance benchmarking and reporting across all seven ALTA Best Practices pillars. To ensure our ComplianceSuccess Program is in lock step with industry standards and requirements, HA&W is actively involved at the highest level with ALTA, AICPA and the Mortgage Bankers Association.

About Single Source Real Estate Services, Inc.:
Established in 2002, Single Source Real Estate is a real estate settlement company that provides non-legal support services to real estate closing attorneys.

About Charter Title, LLC:
Charter Title LLC was established in 2007 and offers title services in both North Carolina and South Carolina. It is affiliated with First American Title Company and WFG National Title Insurance Company.