SSAE 18 SOC1 TYPE II COMPLIANT
Our successful SSAE 18 SOC1 Type II examination verifies our processes for approving, monitoring, and reviewing our agents.
The Statement on Standards for Attestation Engagements (SSAE) 18 provides guidance for auditors assessing financial statement controls at service organizations, while the Service Organization Controls (SOC) report examines how management of an organization describes its auditing systems and controls in place around that system.
With the SOC1 Type II report, the controls are described and evaluated, for an absolute minimum of 6 months, to determine if the systems are functioning as they are described by management.
Our successful SSAE 18 SOC1 Type II examination verifies our processes for approving, monitoring, and reviewing our agents, which enables us to legitimately audit our title agents and grant them the distinction of Authorized Service Provider of Alliant National.
We were first recognized as SSAE 18 Type I compliant, an evaluation that examines a single point in time, on Dec. 1, 2013. Then on Aug. 31, 2014 we satisfied the standards for the more stringent Type II certification. We’ve now held our SSAE 18 Type II certification for five consecutive years.
Latest Blog Posts
- Celebrating a New Chapter, Congratulations Gordon Hampton
- PropLogix’s Title Industry Insights for 2019 Features Alliant National’s Jeff Stein
- Staff Photo Contest: A Celebration of Irish Proportions
- Tips for Avoiding or Reducing Title Insurance Claims
- Obtaining Payoff Statements Directly from the Lender
Alliant National Title Insurance Controller Gordon Hampton Retires.
Thank you for being an amazing example through the years. Your dedication and hard work are really inspiring. You will be missed, but enjoy your retirement!
Alliant National’s Regional Counsel Jeff Stein was a featured contributor in PropLogix’s Title Industry Insights for 2019.
For the article, title insurance leaders share perspectives on topics that should be top of mind for settlement agents in 2019.
The story explores strategies and practices for title agents, including wire fraud prevention, marketing, e-closings and blockchain.Download Report
Did you know St. Patrick’s Day is celebrated in more places throughout the globe than any other national festival? Show us how you celebrate!
Submit a photo of yourself enjoying a St. Patrick’s Day celebration to firstname.lastname@example.org for a chance to win a prize.
Photos will be uploaded to a photo album on the Alliant National Facebook page as we receive them, and fans of the page will have a chance to vote for their favorite photo. You can invite your Facebook friends to vote for your favorite entry also.
By Martin R. Ufford Member
Hinkle Law Firm,LLC
I’ve had the privilege of representing title insurance companies and their insureds for the past ten years.
Each claim represents a unique challenge. With the benefit of hindsight, I have reached some conclusions that may assist agents and local counsel in avoiding claims.
Looking to avoid title claims related to unpaid mortgages and deeds of trust? We offer 4 tips
Our Claims Team has received various claims related to unpaid mortgages and deeds of trust. Here are two scenarios we have seen arise in the context of a claim:
The agent receives a payoff statement from the seller. The seller sends an email requesting the payoff from the lender and copies the agent on the email.
The agent relies on the email and the payoff statement to wire funds to the lender.
Later, it is discovered that the email address for the lender is fake, and the bank account receiving the payment was held by the seller, not the lender.
The agent reaches out to the lender for a payoff statement. However, the closing date is approaching, and the lender has not responded.
The seller provides the agent with a printout showing a zero-balance owed on the account. The agent contacts the lender once again for a payoff statement.
The lender confirms over the phone that a zero balance is owed. The agent closes the transaction based on these representations.
Later, it is determined the original lender confirmed a zero-balance due because the loan had been sold to another lender.
An assignment of the mortgage had been recorded, and the current holder of the notes filed to foreclose.
Here are 4 tips to help you avoid these types of claims:
- Always obtain a payoff statement directly from the lender. Do not rely on payoff statements provided by other parties. Your request for a payoff should include a letter of authorization from the borrower, the loan number, the property address, the borrower’s name and your fax number or email address.
- Only rely on a payoff statement sent by the current holder of the note. Check the MERS system, (if the mortgage is a MERS loan), and the public records for the last assignee.
- Be mindful of working with hard money lenders – hard money lenders may assign their interests off the record. (See Bulletin 2017-02 and Claims Title Tip dated September 18, 2017 discussing hard money lenders .)
- Obtain separate payoff statements directly from each lender with an interest in the property being sold or refinanced. Do not rely on representations from the borrower or other institutions regarding the balance of a loan.