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Equity National Title has been awarded the highest level of accreditation available to settlement services firms demonstrating an elite level of effectiveness in their protection of sensitive client data. After an extensive auditing process, independent accounting and technology firm Sparrow, Johnson & Ursillo has awarded Equity National Title the American Institute of Public Accountants’ (AICPA) Service Organization Control 2 (SOC 2) Type II certification. Equity was additionally certified by Sparrow, Johnson & Ursillo as being compliant with the American Land Title Association’s Best Practices. Equity is a national title/settlement agent offering a full array of title and settlement solutions for mortgage lenders, home builders and real estate agents.
The SOC 2, Type II certification reports the evaluation of an independent auditor as to the effectiveness of controls at a service organization relative to security, availability, processing integrity, confidentiality and privacy as established by the AICPA, Trust Services Principles and Criteria. The designation is widely considered to be the superior standard for certifying the effectiveness and consistency with which a firm or organization institutes data and financial controls for the protection of sensitive information. Widely accepted throughout the financial services and other industries as one of the leading auditing measurements, the certification indicates that Equity consistently uses strong processes and systems to protect the integrity of confidential data throughout the settlement services process, including the storage of Non-Public Information and the escrow process.
“Now more than ever, service and quality really do matter,” said James K. O’Donnell Esq., president of Equity National Title. “Very few settlement service providers are willing or able to undergo the exhaustive auditing process or the expense required to achieve the SOC II, Type 2 designation. However, lenders are being held accountable for the shortcomings of their service providers. Our clients deserve and demand to know whether their partners are truly trustworthy. This is why ALTA’s Best Practices were created. We further believe that our clients deserve more affirmation than can be provided by a questionable self-certification process. Equity has always stood behind its work, its people and its clients. So it was clear from the start that the SOC II, Type 2 certification was the right thing to do to assure our clients.”