Alliant National Title Insurance Co. announced the successful completion of the Service Organization Control (SOC) 1 SSAE 16 Type II examination for the second consecutive year. The examination results in an AICPA-endorsed report stating that Alliant National Title Insurance Co. has maintained effective controls over its agent quality management system.
A-Lign Certified Public Accountants of Tampa, Fla., performed the engagement and certification, Alliant said in a news release.
The successful SSAE 16 Type II examination verifies Alliant National’s processes for approving, monitoring, and reviewing its agents, which results in its agents being designated as authorized service providers of Alliant National. Under this framework, Alliant National’s independent agents are reviewed annually against rigorous quality standards. Moreover, the SSAE 16 Type II exam validates the systems in place to minimize risk of financial loss to customers in connection with real estate closings. Lenders relying upon Alliant National’s oversight of its agents and authorized service provider program receive additional assurance that processes are complete and function properly in accurately reviewing or certifying its agents.
Alliant National was certified to the SSAE 16 Type I standard on Dec. 1, 2013, and received certification to the more rigorous SSAE 16 Type II standard effective Aug. 31, 2014, and again as of this Aug. 31. That makes 2015 its second consecutive year of continued compliance to SSAE Type II standards. The report was issued without exceptions.
“Alliant National was the first title insurance underwriter in the nation to obtain an SSAE16 Type II compliant status and is the only title insurance underwriter to achieve compliant status for two consecutive years. This certification provides further independent assurance of our agent oversight systems to lenders,” President and CEO Bob Grubb said. “Our goal is to provide lenders unequivocal evidence of the quality of our agents through an independently audited system.”