At Meridian, it has always been our goal to handle your transaction in a secure and accurate manner. In response to the Consumer Financial Protection Bureau’s Bulletin 2012-03, the American Land Title Association (ALTA) has issued a list of “Best Practices” for title insurance companies. By adhering to ALTA’s best practices you can be confident that your transaction at Meridian is being handled in the most secure manner possible.
Here are the best practices as set by ALTA, along with just a few of the things Meridian Title Company is doing to meet and exceed these standards:
Best Practice 1
Establish and maintain current licenses as required to conduct the business of title insurance and settlement services.
Meridian Title Company has always been a state licensed title insurance agency. In addition, all employees at Meridian hold an individual license as title agent in the state of Missouri.
Meridian is a member of the Missouri Land Title Association and is licensed by the American Land Title Association to use ALTA promulgated forms.
Best Practice 2
Adopt and Maintain appropriate written procedures and controls for Escrow Trust Accounts allowing for electronic verification of reconciliation.
All escrow trust accounts at Meridian Title Company are maintained at Federally Insured financial institutions.
Meridian performs a daily reconciliation on all escrow trust accounts.
Best Practice 3
Adopt and maintain a written privacy and information security program to protect
Non-public Personal Information as required by local, state & federal law.
Meridian protects data with appropriate technical and organizational measures to minimize the risk of unauthorized or unlawful processing and against accidental loss, destruction or damage to personal data.
Only licensed agents who have undergone a background and credit check have access to your personal information.
Best Practice 4
Adopt standard real estate settlement procedures and policies that help ensure compliance with Federal and State Consumer Financial Laws as applicable to the settlement process.
Meridian’s Instant Quote Calculator is available on this website to provide accurate information on our pricing.
Meridian electronically records documents with the various county recorder’s offices to ensure accurate and timely recording.
Best Practice 5
Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
Meridian Title Company issues all final title insurance policies within the timeframe specified by Missouri law.
Meridian remits premiums to its underwriters in a timely fashion.
Best Practice 6
Maintain appropriate professional liability insurance and fidelity coverage.
Meridian Title Company is insured by Lloyd’s of London and carries Errors and Omissions Insurance, a Fidelity Bond on all employees and Cyber Crime Insurance.
Best Practice 7
Adopt and maintain procedures for resolving consumer complaints.
Meridian addresses and tracks all customer complaints whether delivered in person, by phone or in writing.
Meridian Title Company maintains accreditation with the Better Business Bureau of Southwest Missouri.