We Can Help Your Settlement Agency Stay Competitive
Beginning in January 2014, residential mortgage lenders were required to be in compliance with the Consumer Financial Protection Bureau’s (CFPB) Real Estate Settlement Procedures Act (Regulation X). Earlier The CFPB issued Bulletin 2012-03 that stated mortgage lenders are responsible for ensuring their service providers (e.g., real estate settlement attorneys and title companies) are in compliance with Regulation X.
To help real estate settlement attorneys and title companies, the American Land and Title Association (ALTA) developed a best practices framework and related assessment procedures that companies could use to ensure compliance with Regulation X.
Craine, Thompson and Jones, P.C. can help you by performing annual audits following the ALTA best practices framework that can be provided to each of your mortgage lender clients. The benefits of having the audit include:
- Eliminating the need to have multiple mortgage lenders come on site to perform the audits.
- Differentiating yourself from the competition.
- Ensuring you have adequate controls in place to retain current clients.
In addition to performing the annual audits, Craine, Thompson and Jones can provide an assessment for settlement agencies to ensure the company has adequate controls in place prior to performing the audit.
Craine, Thompson & Jones Morristown
Our Morristown Office
Craine, Thompson & Jones Sevierville
Our Sevierville Office
225 W 1st North Street
Suite 300, Millennium Square
Morristown, TN 37814
248 Bruce Street,
Sevierville, TN 37862
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