Whats in a name
ALTA Best Practices
Equity Title is Certified on all 7 of the ALTA Best Practices. Equity Title of Washington as well as the other Orange Coast Title Companies were among the first in the industry to complete a SSAE 16 Service Organization Control (SOC) Type I and Type II examination and received the SSAE 16 Certification. Our SOC I and II reports describes our controls, the auditors testing of our controls and the auditor's opinion on the fairness of our description, suitability of the design and operating effectiveness of our controls. The company and its processes were certified by independent auditors to the American Land Title Association's (ALTA) "Best Practices" protocols at the highest possible level, "NO EXCEPTIONS TO STANDARDS". The company maintains this standard through an annual audit by an independent third party.
THE 7 PILLARS OF ALTA BEST PRACTICE ARE:
- Establish and maintain current licenses at the Local, State and Federal level.
- Adopt appropriate escrow trust accounting procedures.
- Adopt and maintain written policies regarding privacy and protection of NPPI information.
- Settlement Procedures that with Federal and State Laws.
- Timely title policy delivery, reporting and premium remittance.
- Maintain appropriate liability and fidelity insurance coverages.
- Establish written consumer complaint procedure.
The OCT Way
Commitment to Service Since 1974 - This phrase has been on most of our printed materials since the inception of the company. It was the first slogan that John Marconi created for his young company. While the phrase is clear and may not require much clarification, we think that the two key words to further define for a complete understanding are "commitment" and "service".
Customer is King - Again this phrase is simple and easy to understand. We put our "customer" above all else in order of importance. We like to tell our employees that our customers are really the ones who sign their paycheck, not our management. Without customers who choose us, we are nothing.
Whatever it Takes - This is our attitude in deciding how far we are willing to go to satisfy our customer's needs. The only boundaries are legal and regulatory. Whatever it takes in the areas of effort, time, attitude, knowledge, experience, etc is what we intend to provide to our customers. We Close Deals - This is our fundamental approach to transaction management. Everybody in a transaction is in it to close it. Nobody gets what they bargained for unless it closes. Closing the transactions that open with us is a driving concern in everything we do.
Nobody says "No" without Kicking it Upstairs - We want to make sure that senior management has a chance to evaluate all transactions before the client goes to another title company. Since we opened our doors we can count on one hand the number of transactions that OCT had a shot at that closed somewhere other than OCT. We have a deserved reputation for being the go-to company for tough transactions. We want to expand and improve on that reputation. Creative decision making and closing tough transactions unfortunately takes work and time and strong communication skills from our Senior Management. Other companies are not willing to commit to that and we are. With this philosophy we have a low claims ratio that is exceptional.
Real Solutions for Real Problems - This is a philosophy that was developed as we stepped forward in the technology realm. We believe that the loudest bells and whistles are not the goal, but rather technology that works and solves problems for our clients and our employees and makes us more efficient and helps to grow sales and increase profitability.