Nationally certified public accounting and consulting firm PYA (Pershing Yoakley & Associates) announces release of a Best Practices Gap Analysis Tool™ and Best Practices Readiness Tool™ to assist title and settlement agents in navigating American Land Title Association (ALTA) Best Practices implementation.
PYA has announced two new on-line tools which make it easier for title and settlement agents as they work toward ALTA Best Practices implementation and compliance. Each tool assists agents in preparing to demonstrate to lenders that their agencies are compliant with ALTA Best Practices.
The PYA Best Practices Gap Tool™ provides agents the opportunity to confirm that their policies and procedures are ALTA Best Practices compliant. This tool allows agents to upload their policies and procedures and receive an evaluation from PYA’s ALTA Best Practices Services Group within two business days. This evaluation is designed to identify gaps in agents’ policies and procedures that would not be compliant with ALTA’s Best Practices Framework.
The PYA Best Practices Readiness Tool™ consists of a brief questionnaire for title and settlement agents regarding their Best Practices implementation progress to help determine if they are ready for a third-party assessment. Upon completion, the questionnaire generates immediate progress feedback associated with each Best Practices “pillar” to gauge relative readiness. Within a few business days, PYA will contact each agent to discuss how areas of deficiency can be addressed while the agency prepares for its assessment.
PYA assists title companies with the development of policies and procedures consistent with ALTA’s Best Practices, implementation of ALTA’s Best Practices Framework into operational processes, pre-assessment, and certification.
The PYA Best Practices Gap Tool™ is complimentary for ALTA members, agents of several underwriters, and members of multiple state land title associations. The PYA Best Practices Readiness Tool™ is complimentary for all agents.