New Title Industry Blog About Reaching Higher Compliance Standards

Blog_(1)Nationally certified public accounting and consulting firm PYA announces the release of a new blog designed to enhance communication between the title and closing community and the world of accounting. 

Nationally certified public accounting and consulting firm PYA has announced the launch of a new blog for the title and closing community that offers unique perspective from inside a CPA firm.   At the blog’s helm will be 35-year title industry veteran Eugene McCullough, PYA’s Director of Title Industry Services within the ALTA Best Practices service line.  McCullough joined PYA with the goal of aiding the Firm’s efforts to understand and communicate with the title insurance community.  Now also an accounting firm “insider,” McCullough will serve as a liaison between these industries, and through this new blog, will help facilitate communication and address issues of importance to each.

“It is my hope that the insights shared in the blog will provide assistance to title professionals when interfacing with the CPA community, especially when considering some level of Best Practices assessment,” McCullough said.  “Through my work at PYA, I have become familiar with the technical jargon and accounting industry processes routinely used by CPAs.  This blog will allow us to share that insight with title agents in a way that connects both professions.” Read more

Title Industry Vet’s Insights Inside CPA Firm Conducting ALTA Best Practices Assessments

A New Blog for the Title Community

What is a former title attorney and title underwriter executive doing in a CPA firm?  After a 35-year career in the title industry, I often asked myself this very question.  The answer is simple: serving as a liaison between the title and closing community and the world of accounting.  This blog is borne out of my desire to enhance communication between these two professions by addressing issues of importance to each— from compliance to ALTA Best Practices to quality assurance.

This new blog is designed to provide the title insurance and closing community with relevant information to assist in their efforts to secure independent third-party certification of compliance with ALTA Best Practices Framework 2.0.  Furthermore, it is my hope that these insights will provide assistance to title agents when interfacing with the CPA community, especially when considering some level of Best Practices assessment.

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Grab Your ALTA Best Practices Umbrella and Brace for OCC Storm

When dark, foreboding clouds appear on the horizon on the morning of your picnic, wouldn’t it be wise to pack an umbrella?  It’s simple advice we can apply to what’s happening in the title industry with the Office of the Comptroller of the Currency’s (OCC)—one of the lending industry’s most powerful regulators—decision to revise its 23-year-old penalty guidelines to expand the definition of potential wrongdoers and enhance the punishment that can be meted out to those who commit violations.   Title agents and attorneys should take a moment to ensure that they aren’t in the radius of the impending storm, as they unfortunately may find themselves much closer to the direct path than anticipated.

On February 26, 2016, the OCC released Bulletin 2016-5, which updates the OCC’s policies for the assessment of civil money penalties (CMP) and represents the foreboding clouds on the morning of the industry’s picnic.  A close reading of this bulletin makes it clear that title agents and title attorneys will likely need a very sturdy golf umbrella, preferably emblazoned with the “ALTA Best Practices logo,” to avoid some of the inevitable consequences of an oncoming storm.  Read more