Estimated Length: 3 hours, 30 minutes
Cost: $75.00 (USD)
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This course is a comprehensive discussion of the Real Estate Settlement and Procedures Act and the new regulations promulgated by the Consumer Financial Protection Bureau. A detail history of RESPA and other legislation that has led us to where we are today are included. The course covers servicing, escrow accounting, Notice of Error, Requeist for Informatin, Forced Placed Insurance, Loss Mitigation, Affiliated Business Arrangements, and Solicitation. It includes detailed sections on the new Loan Estimate and the new Closing Disclosure.
Vincent G. Danzi graduated from the University of Texas at Austin with a Bachelor’s degree in History in 1995 and earned his law degree in 2000 from the State University of New York at Buffalo. Prior to law school, he was a Licensure Investigator for the Texas State Board of Medical Examiners. Since law school, he has worked in the title insurance and settlement services industry. He serves as General Counsel for Equity Settlement Services, Inc., a national title and settlement services provider, which offers a wide range of services across a thirty-five state footprint. Outside this role, his practice includes business legal representation, consulting, and serving in an of-counsel and outside expert capacity on RESPA and other compliance and title insurance issues. In accord with his enduring devotion to computer programming, he is also a database application and user interface developer. He lectures, writes, and otherwise contributes to the publications and seminars of such organizations as The New York State Land Title Association, the Title Appraisal Vendor Management Association, October Research, The New York State and Suffolk County Bar Associations, and is a member of the Editorial Advisory Board of October Research’s The Legal Description, the nation’s leading legislative and legal analysis newsletter for the title insurance and settlement services industry. Mr. Danzi was a featured speaker at the 2011 National Settlement Services & Compliance Summit in Cleveland, Ohio, at which he spoke on best practices for the title insurance industry
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This course is one in a series of Courses that discuss ALTA Best Practices. This one covers Pillar 2. The objective of the course is for the learner to complete the section of their policy and procedure manual for the pillars discussed in the course. Also, upon completion the learner will be confident that they will be able to pass an ALTA Best Practice audit for the pillars discussed in the course.
Pillar 2 is about Escrow Trust Accounting. Appropriate and effective escrow controls and staff training help title and settlement companies meet client and legal requirements for the safeguarding of client funds. These procedures help ensure accuracy and minimize the exposure to loss of client funds. Settlement companies may engage outside contractors to conduct segregation of trust accounting duties.
The course covers the 73 questions asked in the ALTA Pillar 2 Workbook so that the learner understands what is expected to be compliant. The course covers the Action Items report, Assessment Readiness, and Certification
Streamline Consulting has done the research and put together the content for the course. Streamline Consulting is a privately owned company that was formed in order to meet the personnel, technical and business needs of Title Insurance Companies. They are advocates for their clients in all aspects of the title insurance industry.
While the nature of the business is the same in all states, the nuances of each title company, even within the same city, can be very different. Streamline customizes every project and product for each title company, regardless of size, location or products and services provided to their customers.
Stephanie Fullerton of Streamline Consulting discusses the 7 Pillars of ALTA Best Practices. Not only is each Best Practice defined but an explanation is included that gives the reasoning behind it. Steps for implementation and the cerification process are also discussed. Below is a brief outline.
This course has been approved in Pennsylvania.
- 7 Best Practices of Best Practices
Best Practice #1
- Best Practice 1: Licensing
- ALTA’s Policy Forms Licensing Requirement
Best Practice #2
- Best Practice #2: Escrow Trust Accounting
- Best Practice #2: Steps to Compliance
Best Practice #3
- Best Practice #3: Protecting NPI
- Best Practice #3: Steps to Compliance
Best Practice #4
- Best Practice #4: Settlement Processes
- Best Practice #4: Recording Procedures
- Best Practice # 4:Pricing Procedure
Best Practice #5
- Best Practice #5: Policy Production
Best Practice #6
- Best Practice #6: Insurance Coverage
Best Practice #7
- Best Practice #7: Consumer Complaints
- Assessment Procedures
- Assessment Preparation Workbook
- Certification Package
- Certification Package Part 1
- Certification Package: Part 2
Streamline Consulting, LLC was founded in 2004, born naturally, based on the experience of its founders and a need within the industry for bridging gaps between software and title and insurance functionality. Streamline became an effective, non-biased and neutral third-party, to help make decisions, implement policies and procedures and in utilizing production software to its fullest capacity; all of which needed to be specific to the individual/respective organization.
We take the human resource and the title/escrow capabilities contained within client offices and apply them to the software to bring out the greatest utility in both. Streamline Consulting has team members and resources that focus on documents, reporting, system setup, project management solutions, data conversions, remote or on-site training and implementations, as needed. We function as the main software administrator for many of our clients, by working hand in hand with the client and applying workflow goals and management parameters to customize the software to meet your needs. Communication is not limited to just management. By sitting with client staff, we draw out the reality about how they actually spend their time, what applications they are using, how they use the production software and also work around inefficiencies.
This full bodied engagement is not necessary for everyone. Streamline is also equipped to work with clients on individual projects on an as needed basis. In addition to these professional capabilities, Streamline team members genuinely enjoy taking part in adding value to the client organization which is why we consider ourselves to be your Value Added Partner. We believe every company deserves the opportunity to shine regardless of its size and that in order to be successful, you must empower those around you to be the same. Streamline prides itself on providing innovative solutions, alternatives and opportunities for real estate title insurance companies nationally.