ALTA created best practices to help organizations highlight policies and procedures to protect lenders and consumers, while ensuring a positive and compliant real estate settlement experience. SoftPro offers solutions to several of these best practices to keep your company compliant!
Best Practice #2: Maintain Appropriate Controls for Escrow Trust Accounts
SoftPro helps companies achieve this Best Practice by offering Trust Accounting software, as well as ProClear, PositivePay and Trust Account Reconciliation Services that include your own personal reconciler that will provide you with daily and monthly reconciliations of your organizations escrow account(s).
Best Practice #3: Maintain a Written Privacy Program to Protect NPI
SoftPro's secure solutions help companies achieve this practice by offering the ability to set permissions to restrict access to data, as well as database encryption, secure file sharing through SoftPro Live, data Backup Services and secured Hosted Solutions.
Best Practice #4: Adopt Standard Real Estate Settlement Procedures
SoftPro helps companies achieve this practice by providing software solutions that support the Standard Real Estate Settlement Procedures by automatically calculating rates and fees within your software to eliminate errors and charge the correct rates, and the ability to e-record through SoftPro 360.
Best Practice #5: Maintain Procedures for Title Policy Production, Delivery, Reporting and Premium Remittance
SoftPro helps companies achieve this practice by offering users the ability to produce policies, remittance reports, and calculate underwriter splits for each order. They can then transfer these to a fee ledger and disburse them to their underwriter as part of the remittance. SoftPro also has numerous direct integrations with underwriters which increases efficiencies in creating CPLs/ICLs, and policy jackets.