ALTA BEST PRACTICES
Successfully closing thousands of real estate transactions throughout the state of
Michigan since 1987. Personalized Service. Professional Results.
| Our Commitment
We take pride in utilizing the latest title and closing technologies to ensure a smooth and seamless transaction. The industry professionals on the Vanguard Title team draw from their many years of title and closing experience to properly handle each and every real estate transaction focusing on confidentiality and security of personal client data. Vanguard Title provides the highest quality of service to our valued customers throughout the state of Michigan.
We hereby Pledge to continually –
- Innovate new business practices and tools to enhance the settlement experience,
- Provide ongoing employee training for quality service and regulatory compliance, and
- Implement written procedures in conformance to these Best Practices on your behalf
| “The 7 Pillars” of ALTA Best Practices
Establish and maintain current License(s) as required to conduct the business of title insurance and settlement services.
- Vanguard Title holds all State of Michigan mandated title insurance licenses as a title insurance agency and for requisite individuals dependent upon job responsibilities. Such licenses are reviewed by our underwriters on an annual basis.
- Vanguard Title is part of an agreement with ALTA in utilizing all ALTA Forms and affiliated information.
Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.
- Vanguard Title deploys all appropriate and essential procedures and controls related to its Escrow Trust Accounts as required by the Michigan Department of Insurance, the Consumer Financial Protection Bureau, and our underwriters to safeguard your funds. All Escrow Trust Accounts are reconciled daily.
Adopt and maintain a written privacy and information security program to protect Non-public Personal Information as required by local, state, and federal law.
- Vanguard Title maintains an Information Security Policy that comports to federal and state law as well as requirements set forth by our underwriters for holding and securing non-public personal information.
- Vanguard Title has developed a Disaster Management Plan for the company’s network, systems, and applications.
- Vanguard Title utilizes encrypted email for transmitting non-public personal information.
- Vanguard Title maintains a “Clean Desk” policy for all non-public information stored in its offices.
- Vanguard Title performs employee screening in the form of background checks in its hiring process and regularly conducts background checks every 3 years.
- Vanguard Title maintains a seven-figure “Cyber Liability” insurance policy for the benefit of our customers.
Adopt standard real estate settlement procedures and policies that help ensure compliance with Federal and State Consumer Financial Protection Laws as applicable to the Settlement process.
- Vanguard Title has written procedures that delineate our procedures and checklists (pre-closing and post-closing) for real estate settlements in Michigan that adhere to federal, state, and underwriter mandated requirements. All employees are trained on those requirements.
- Vanguard Title provides Pricing Procedures and Controls in the form of underwriter’s rate manuals, our title production system (ResWare), and/or online calculators (as appropriate) to help ensure the correct fees are being charged for title insurance policy premiums, state-specific fees and endorsements as filed with the Michigan Department of Insurance. All credits, discounts, and other pricing accommodations are provided (whenever applicable) pursuant to our underwriter’s business rules and filed rates along with our filed settlement fees.
- Vanguard Title administers written Document and Instrument Recording Procedures and Controls for manual and e-recordings.
Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
- Vanguard Title maintains all requisite procedures for timely issuance of title insurance policies to Owners and Lenders as dictated by federal law, Michigan Department of Insurance regulations, and underwriter mandates.
- Vanguard Title also maintains the appropriate systems to timely report issued title insurance policies to our underwriters, remit payment to our underwriters, and overall meet our legal and contractual obligations thereto.
Maintain appropriate professional liability insurance and fidelity coverage.
- Vanguard Title secures Errors and Omission Insurance that stands by our financial capacity and commitment to provide professional real estate services to our customers.
- Such insurance also includes any mandated coverages called for by our underwriters.
Adopt and maintain written procedures for resolving consumer complaints.
- Vanguard Title has developed written procedures to capture, review, and timely address any issues or concerns you may have regarding our services. You can easily submit the issue to us using the “Share Your Experience” tab on our website. We’ll log, track, and respond to your situation quickly. We want to know about any poor service experience or compliance concern you might have. Your confidence and satisfaction is important to us.