MReport May 2019

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34 | TH E M R EP O RT SPECIAL ADVERTISING SECTION: TITLE & ESCROW GUIDE ALTA Registry KEY PERSONNEL Paul Martin ALTA Registry Director CONTACT INFORMATION ALTA Registry 1800 M St. NW, Suite 320 South Washington, D.C. 20036 Phone: 855.618.2582 Email: Web: COMPANY DESCRIPTION ALTA launched the ALTA Registry in 2017 as the first national database of title insurance agents and settlement companies. In addition to contact information and branch locations for agents and title companies, each ALTA Registry listing also includes a title agent or real estate attorney's unique seven-digit ALTA ID. COMPANY HISTORY The American Land Title Association, founded in 1907, is a national trade association representing more than 6,200 title insurance companies, title and settlement agents, independent abstracters, title searchers, and real estate attorneys. Additionally, ALTA represents more than 11,000 policy forms licensees that issue title insurance policies across the country. With offices throughout the United States, ALTA members conduct title searches, examinations, and closings, and also issue title insurance that protects real property owners and mortgage lenders against losses from defects in titles. BUSINESS LINES, SERVICES, AND PRODUCTS: The national ALTA Registry is an extra layer of security so that mortgage lenders know they are working with the correct title and settlement company and properly protecting their consumers' money and nonpublic personal information (NPI). The ALTA Registry grants its customers with direct access to centrally managed information that: • saves time and allows mortgage lenders to have direct access to centralized information about their service providers • increases data quality with title insurance underwriter confirmed data points • reduces errors and risk with a unique ALTA ID for individual title agents and their various branches, which helps reduce confusion over similar or duplicate data across mortgage lender databases • enhances third-party supplier oversight procedures The Challenge: ALTA estimates there are nearly 20,000 title and settlement companies and real estate attorneys in the United States. No online, searchable database currently exists to identify title and settlement agents and real estate attorneys early in the real estate transaction. Mortgage lenders want more information about the businesses they do business with, and they need to ensure their risk- management procedures are being met. The Solution: With the national ALTA Registry, title and settlement agents and real estate attorneys will be identified earlier in the real estate transaction in order to reduce errors when placing or closing title orders. Confirming your business and maintaining your listing in the ALTA Registry helps ensure more efficient communication among all parties within the real estate transaction and eliminates duplicate businesses in various databases. The ALTA Registry helps mortgage lenders add an extra layer of confirmation that they are working with the correct title and settlement company or real estate attorney and properly protecting their consumers' NPI. KEY FEATURES/BENEFITS • Combat Wire Fraud • Lenders can confidently confirm details when wire fraud or a scam is suspected. • Clean up Old Databases • Use the national ALTA Registry to clean up your data and create a new confirmation process for title agents. • Eliminate Old-School Verification • Stop relying on "old-school" verification practices for compliance management procedures. TESTIMONIALS "The ALTA Registry identifies a title vendor with unprecedented accuracy and is a great fit for real-time mortgage compliance. This makes our results more accurate and further automates the range of verification checks Compliance EAGLE provides lenders. The ALTA Registry includes a unique ID that allows us and our lender customers to identify a title vendor without relying upon antiquated processes and solves decades-old verification headaches." —Leonard Ryan, President, QuestSoft "Participating in the national ALTA Registry allows our lenders to reduce risk for their borrowers while documenting compliance with vendor oversight and investor requirements, including Fannie Mae's acceptable title insurer requirements." —Chris Christensen, Attorney, Digital Delivery

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