NC Closing Attorney Best Practices Task Force
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    • Best Practice #1: Licensing
    • Best Practice #2: Trust Account Controls
    • Best Practice #3: Information and Data Privacy and Security
    • Best Practice #4: Settlement Policies and Procedures
    • Best Practice #5: Title Policies and Post-Closing
    • Best Practice #6: Malpractice, Errors & Omissions and Fidelity Coverage
    • Best Practice #7: Consumer Complaints
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Best Practices

The Assessment and Certification procedures are designed for a third party assessor to come on-site to the law firm and review their compliance with all of the seven (7) voluntary Best Practices. 

Key concerns are:
(1) Written policies and procedures
(2) Ongoing training and monitoring of and by attorneys, staff and vendors, including independent paralegals, IT providers, cleaning / maintenance providers and others who might have access to confidential client information.


It is still unclear who the assessor must be.  That determination will ultimately be based on whose judgment any particular lender is willing to accept as sufficient.  It is hoped that an industry standard will be determined, which includes qualifications such as expertise, financial reliability ("deep pocket") and independent judgment.

INFORMATION:
ALTA Best Practices - documents, assessment procedures & webinars

RESOURCES:
Go to "Resources" page as well as individual Best Practice Pillar pages for more information on resources.




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