We’ve been sending you regular emails that explain about the changes being made to the mortgage loan closing process which become effective October 3.

One of the terms you may see or hear about is the “Best Practices.” According to ALTA, “Best Practices are the benchmark for the real estate settlement and mortgage lending industries. They illuminate the high level of professionalism that ALTA members follow to protect consumers and business in the real estate and mortgage settlement.”

Following Best Practices is voluntary. Settlement Agents are not required to follow the policies and procedures suggested by ALTA.

Davis & Davis has chosen to voluntarily follow the procedures outlined by ALTA. Over the course of several months, our staff have watched dozens of webinars and spent hours developing our Best Practice Manual of policies and procedures. We have upgraded our email system to send secure messages, upgraded our real estate closing software to the most current versions, have had training on preparation of the new Closing Disclosure Forms, and provided copies of our Best Practices Manual to all lenders who have requested it.

When the new regulations become effective, you may find that your lender will only recommend settlement agents that follow Best Practices. Which is why we have voluntarily established the Best Practices Policy at our firm. We have been the settlement agent for thousands of mortgage closings during the 40 years we’ve been in business. We made the investment of time and money so we can continue helping those investing in our community when they purchase or refinance a home.