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Stewart (R) Ramps up Additional Compliance Safeguard for Title Agencies

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Stewart’s agency operations group, which supports Stewart’s growing network of independent title agencies, has announced that Deloitte & Touche LLP (Deloitte & Touche) is able to provide an important service for Stewart’s Trusted ProvidersTM who wish to receive third-party compliance attestation. Specifically, Deloitte’s new Compliance Attestation will be offered to Stewart’s Independent Title and Settlement agents.

When engaged, Deloitte & Touche will be able to perform an examination on the Independent title agency’s Management Assertion on their compliance with the American Land Title Association (ALTA(R)) Best Practices. Deloitte & Touche’s examination procedures are based on American Institute of Certified Public Accountants (AICPA) attestation standards leveraging the ALTA(R) Best Practices framework.

The ALTA(R) Best Practices guidelines were developed to assist lenders in satisfying their responsibility to manage third party vendors pursuant to new standards established by the Consumer Financial Protection Bureau (CFPB), and to use as a benchmark for the real estate settlement and mortgage lending industries to help highlight policies and procedures within the industry. The goal is to protect lenders and consumers, while maintaining a positive and compliant real estate settlement experience.

“We hold our network to the highest standards and put each title agency and attorney agent through a rigorous vetting process before they’re welcomed into our network,” said group president, Pat Beall, Stewart Agency Operations. “By having the optional ALTA Best Practices Compliance Attestation as part of our process, Stewart further validates the high-quality standards of our network, which lenders and consumers will find of value.”

As a part of Stewart’s Trusted Provider program, an agency or attorney agent must pass an intensive initial due-diligence screening, conduct business according to Stewart’s stringent Trusted Provider Standards, and undergo strict ongoing monitoring.

The Compliance Attestation enhances the existing rigorous vetting process, and addresses the seven pillars of best practices as determined by ALTA. This includes licensing, escrow accounting procedures, privacy and information security, settlement procedures, title policy production and delivery, professional liability insurance coverage, and consumer complaints resolution.

To learn more about Stewart, visit http://www.stewart.com, and for more details on Stewart’s Trust Provided Program, click here.

About Stewart

Stewart Title Guaranty Company is a wholly owned subsidiary of Stewart Information Services Corp. (NYSE:STC), a customer-focused, global title insurance and real estate services company offering products and services through our direct operations, network of approved agencies and other companies within the Stewart family. Stewart provides these services to homebuyers and sellers; residential and commercial real estate professionals; mortgage lenders and servicers; title agencies and real estate attorneys; home builders; and United States and county governments. Stewart also provides loan origination and servicing support; loan review services; loss mitigation; REO asset management; due diligence for capital markets; collateral valuations; home and personal insurance services; tax-deferred exchanges; and technology to streamline the real estate process. Stewart offers personalized service, industry expertise and customized solutions for virtually any type of real estate transaction, and is the preferred real estate services provider. More information can be found at http://www.stewart.com/news, subscribe to the Stewart blog at http://blog.stewart.com or follow Stewart on Twitter @stewarttitleco.

Trademarks are the property of their respective owners.

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