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ALTA Best Practices

Following the 2008 mortgage meltdown, the federal government implemented new legal and market requirements that make the lending and closing process more secure. Lenders are now fully responsible for their activities as well as the activities of third party providers, including title companies.

In order to help lenders and title companies meet the new legal and market requirements, the American Land Title Association (ALTA) developed a set of best practices for lenders and title companies to follow. These best practices are designed to protect consumers and ensure a positive real estate settlement experience.

Atlantic Title Company and our predecessor firm have been in business since 1952. We pride ourselves on treating our clients with the highest level of professionalism and integrity. This is why Atlantic Title Company is proud to have implemented ALTA’s Best Practices. We want to ensure that lenders and consumers receive the highest level of care and professionalism.

We list the ALTA best practice procedures below and explain how Atlantic Title Company implements each of them.


BEST PRACTICE #1: Establish and maintain current licenses.
Atlantic Title Company reviews its state mandated insurance licenses and corporate registrations on an annual basis to ensure it remains in good standing with the state of Maryland.


BEST PRACTICE #2: Adopt and maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.
Atlantic Title Company maintains its Escrow Account Controls in a single location and reconciles all accountings on a monthly basis. We continue to meet all legal requirements that ensure the safeguarding of our clients funds and allow for electronic verification of its reconciliation.


BEST PRACTICE #3:   Protection of Non-public Personal Information as required by local, state and federal law.
Atlantic Title Company performs all required steps to protect its client’s privacy and implements email encryption when any personal information needs to be delivered.


BEST PRACTICE #4: Adopt standard real estate settlement procedures and policies that ensure compliance with Federal and State Consumer Financial Laws as applicable to the settlement process.
Atlantic Title Company verifies that all recorded documents are delivered and recorded in a timely manner. We also utilize all underwriter rate manuals and online calculators and have the most updated title company software.


BEST PRACTICE #5: Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
Atlantic Title Company issues its policies and remits the policies premiums earlier than is required per statute, regulation or contract. Our goal is to continue to provide the title policy and remit its premiums within thirty days of closing.


BEST PRACTICE #6: Maintain appropriate liability insurance and fidelity coverage.
Atlantic Title Company maintains the required liability insurance for errors and omissions with fidelity and surety bond coverage as required by state law and underwriters. We also require our third party vendors to maintain professional liability insurance.


BEST PRACTICE #7: Adopt and maintain procedures for resolving consumer complaints.
Atlantic Title Company, being an attorney owned and operated company, maintains the highest level of service. We have implemented a policy and procedure to ensure any issue is documented, reviewed and resolved in a timely manner.

Jeffrey T. Bald, Esq. President
192 Duke of Gloucester St. • Annapolis, MD 21401
(410) 267-9300 • (410) 269-1900 office • (410) 269-6477 fax

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