Ivy Pointe: A commitment to best practices, fully compliant with CFPB regulations
note from Christopher Finney
When we launched Ivy Pointe Title, LLC just nine months ago, we made a full-throttled commitment to meeting the needs of both the residential and commercial title insurance industry in the Ohio, Kentucky and Indiana marketplaces. This was no small undertaking, as these markets are competitive, and significant regulatory and technological challenges were forthcoming in the residential mortgage marketplace.
Indeed, at the same time that many smaller title insurance companies are exiting the marketplace for these very reasons, we were jumping in with gusto.
We had two reasons to feel confident in the move: (a) we had the trust of a core of residential Realtors and lenders standing firmly behind this venture, and (b) we had the talent of Rick Turner to run the operation and tackle the regulatory challenges. Turner brings more than 16 years experience as a real estate attorney and title agent, and a grasp of the technology and legal environment into which we were entering.
On August 1, lenders, title companies, Realtors and other participants in residential mortgage lending will be entering into uncharted territory, and an aggressive regulatory environment as new regulations from the Consumer Financial Protection Bureau kick in.
We are proud that our team at Ivy Pointe Title has seized on this challenge early and effectively. Thus, we have already launched our client portal and are now marketing that to lenders, Realtors and investors to aid their practices and their CFPB compliance. We are undertaking personalized training of Realtors and lenders about the new CPFB compliance, and we are adopting cutting-edge industry ALTA Best Practices standards to implement the new regulations.
As the CFPB regulatory deadline approaches, we are ahead of the curve in terms of our own implementation, and able to assist our clients in this transition. Let us know how we can help you in this new environment.