Stewart Title Guaranty Company Announces Trusted Provider Program for Title Agencies and Attorney Ag
Stewart Title Guaranty Company Announces Trusted Provider Program for Title Agencies and Attorney Agents
New seal promotes the trustworthiness and integrity of the Stewart Title Agency Network
HOUSTON--(BUSINESS WIRE)-- Stewart Title Guaranty Company announced today the Stewart Trusted Provider™ Program to provide lender, REALTOR® and homebuyer/seller customers peace of mind in the real estate services rendered by approved Stewart agencies. The Stewart Trusted Provider seal validates the high-quality standards they have met to be a Stewart agency. As part of the program Stewart Title independent agencies and attorney agents will be equipped with the new Trusted Provider seal stating that they have been "vetted and verified".
"I am excited to honor our outstanding agency network for upholding our agency standards and completing what we believe to be the most rigorous vetting process in the industry," said George Houghton, group president, agency operations. "The Stewart Trusted Provider seal shows that agencies and attorney agents are a trusted provider of real estate settlement services, and is proof of the elite status they have attained. It is our effort to continue to raise the bar for independent agencies and attorney agents in our network, and to elevate the professionalism and credibility of the title industry as a whole. And, to protect the investments of our customers."
In order to qualify as a Stewart Trusted Provider, an agency or attorney agent must:
- Pass an intensive initial due-diligence screening
○ Pre-sign third-party audit by Deloitte & Touche, LLP
○ Background and credit checks
○ Extensive review of applicant's experience, business model and policy loss history
○ Licensing verification
- Conduct business according to our stringent Independent Agency Standards
1. Maintain honesty and integrity above all else
2. Stay firmly customer focused
3. Employ dedicated and well-trained associates
4. Reconcile all escrow (trust) accounts in a timely manner each month
5. Maintain internal control procedures to ensure efficient and secure real estate settlements
6. Use Stewart as a preferred business partner
7. Maintain an acceptable policy loss ratio
8. Issue title policies as soon as possible after closing
9. Report policies and remit payments to Stewart promptly
10. Maintain a business model that supports the long-term success of your agency
11. Stay current on Stewart Underwriting Bulletins along with local, state and national rules and regulations
12. Comply with all terms of the Stewart Underwriting Agreement
- Undergo strict ongoing monitoring
○ Regular Deloitte & Touche, LLP audits based upon risk model scoring
○ Quarterly visits and detailed operational checklist by the Stewart Agency Services representative (20 points covered)
○ Random background and credit checks
○ Policy inventory audits
○ Comprehensive ongoing operational review of agency network by Stewart senior management
○ Extensive training program for loss mitigation and loss avoidance
○ CFPB compliance training
○ Licensing verification
Many agencies exceed these requirements in their efforts to provide even higher quality service and protection by utilizing Stewart's escrow account reconciliation services, securing an Escrow Security Bond, and the AgencySecure® package of technology and services that help improve processes and reduce claims.
Houghton continues, "Lenders and consumers alike can depend on title agencies and attorney agents exhibiting the Stewart Trusted Provider seal to provide them with a quality experience throughout the real estate transaction process consistent with the coverage provided in Stewart's Closing Protection Letters and Policies of Title Insurance as issued."
For more information on Stewart's Trusted Provider Program, visit http://www.stewart.com/agency-services/stewart-trusted-providers.
Stewart Title Guaranty Company is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE-STC), a customer-focused, global title insurance and real estate services company offering products and services through our direct operations, network of approved agencies and other companies within the Stewart family. Stewart provides these services to homebuyers and sellers; residential and commercial real estate professionals; mortgage lenders and servicers; title agencies and real estate attorneys; home builders; and United States and foreign governments. Stewart also provides loan origination and servicing support; loan review services; loss mitigation; REO asset management; home and personal insurance services; tax-deferred exchanges; and technology to streamline the real estate process. Recognized in 2012 by Forbes® as one of the Most Trustworthy Companies in America, Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, and is the preferred real estate services provider. More information can be found at http://www.stewart.com/news.
Trademarks are the property of their respective owners.
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