OS National, in its effort to stay ahead and keep abreast with compliance and regulatory changes, has made significant changes to its processes and procedures. In light of Consumer Financial Protection Bureau regulations, OSN is proud to announce that it endorses:
- Best Practice: Establish and maintain current license(s) as required to conduct the business of title insurance and settlement services.
- Best Practice: Adopt and maintain appropriate written procedures and controls for escrow trust accounts allowing for electronic verification of reconciliation.
- Best Practice: Adopt and maintain a written privacy and information security program to protect non-public personal information as required by local, state and federal law.
- Best Practice: Adopt standard real estate settlement procedures and policies that help ensure compliance with federal and state consumer financial laws as applicable to the settlement process.
- Best Practice: Adopt and maintain written procedures related to title policy production, delivery, reporting and premium remittance.
- Best Practice: Maintain appropriate professional liability insurance and fidelity coverage.
- Best Practice: Adopt and maintain written procedures for resolving consumer complaints.