February-March 2013 | Volume 6 - Number 2
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Update from ATG AdministrationALTA Best Practices: A Seven-Point Program to Improve the IndustryHow Will it Impact ATG Agents? As the economy recovers from the disastrous mortgage meltdown, the federal government along with the lending and title industries have explored ways to make the mortgage lending and closing processes more secure. Initiatives from the Consumer Financial Protection Bureau (CFPB) and the Office of the Comptroller of the Currency (OCC) specifically make lenders financially responsible for the activities of many third-party vendors providing services in connection with consumer credit transactions. In an effort to assist the lending community in its efforts to reduce its liability, the title insurance industry has implemented new quality control standards designed to improve service, reduce risk, and ensure the highest level of regulatory compliance. A top priority is to ensure the safety of closing funds. Early in this process, many settlement service providers were told by lenders that they and their employees would need to be subjected to a variety of stringent vetting processes, audited by third-party companies. The American Land Title Association (ALTA) quickly realized that such a process, while not only impractical to implement and very expensive for title agents, also provided little actual protection of escrow funds. Read more... Jerry T. Gorman |
IN THE NEWS | New ATG Location in Northern IllinoisGurnee Office Opens April 1, 2013 — To better server our northern Illinois agents and clients, ATG's newest office opens for business in April. Read more... |
ATTORNEYS | Practice NotesLegislative UpdatesIllinois Service Member Civil Relief Act: PA 97-0913 — Also known as the Service Member Civil Relief Act, it provides legal protections to "service members" in "military service" and their families. CasenotesIllinois Indiana Wisconsin |
WHAT'S NEW | Trust, CLE, Process, and Auction ServicesTrust Client Brochure — ATG Trust Company provides a brochure promoting its client services, including implementing estate plans, asset protection, and trust administration. ATG TRUST MEMBERS: Use this excellent marketing tool to introduce ATG Trust Company to your clients. Contact us at info@atgtrust.com or 312.338.7878 with your copy order or your questions. NOT A MEMBER YET? Learn about the benefits to you and your clients. * * * April Seminars - Register Now! — 4-3-13 | ATG Trust Program: Investment Strategies (Connect webcast) [rescheduled, new date to come] See ATG Legal Education at www.atgf.com for our current program catalog. You must be a registered site user to take our programs. NOTE: Some seminars are member only. * * * FAST AND FLEXIBLE: The Process Server Responsive to Your Needs — Get the finest process serving available to lawyers today. Learn what the LegalServe Difference can make in your practice and place your order today! * * * Auctions by ATG - Your REO Resource — Your REO Resource - Auctions by ATG provides opportunities for clients on both sides of the transaction: Lenders and Servicers get a faster, more cost-effective platform to dispose of non-performing assets; Investors and Homebuyers get an exciting opportunity to purchase residential real estate at attractive prices. See current and upcoming auctions. Join Our Email List to receive notices and updates on our auctions. You can bid in person or online. If you have questions, contact Operations Manager Mary Fran Gill, 312.752.1160. |
[Last update: 3-26-13; original post date: 3-20-13]
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