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Commonwealth USA Settlements Earns SOC 2 Type II Certification

NationalMortgageProfessional.com
Feb 07, 2017
Commonwealth USA Settlements LLC (CWUSA), a national provider of innovative title and settlement services, has been granted The American Institute of Public Accountants’ Service Organization Control 2 (SOC 2) Type II certification

Commonwealth USA Settlements LLC (CWUSA), a national provider of innovative title and settlement services, has been granted The American Institute of Public Accountants’ Service Organization Control 2 (SOC 2) Type II certification after completing an extensive, independent audit process with a third-party Certified Public Accounting firm.
 
The SOC 2, Type II examination is considered by many to be the gold standard for the examination of suitability of design and testing the operating effectiveness of controls  to meet criteria for security, availability and processing integrity, as set forth by the AICPA, Trust Services Principles and Criteria. It is a widely-accepted auditing measurement indicating robust controls in the integrity of processing of and protection of confidential data and Non-Public Information (NPI).
 
Created in 2011 by The American Institute of Public Accountants to replace the SAS 70, the SOC 2, Type 2 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.
 
“Mortgage lenders have told us again and again that they need service providers which can not only provide adequate security controls, but document and authenticate them as well,” said Angela Murin, president of CWUSA. “Unfortunately, few title and settlement agents are able to afford the time, cost and effort it takes to undergo the audit. We have built our business upon protecting the interests of our lending clients using innovative, overlapping and robust procedures and technologies. For us, the SOC 2, Type 2 is confirmation of the thought and effort we’ve put into that goal from the very beginning.”
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