#2 Trust Account Controls
Adopt and maintain appropriate written procedures and controls for Escrow Trust* Accounts allowing for electronic verification of reconciliation.

Purpose
Appropriate and effective escrow controls and staff training help title and settlement companies meet client and legal requirements for the safeguarding of client funds. These procedures ensure accuracy and minimize the exposure to loss of client funds. Settlement companies may engage outside contractors to conduct segregation of trust accounting duties.

ALTA's Best Practices Resource & Documentation Page ALTA Assessment Procedure ALTA Best Practices: How to Document Your Escrow Trust Account Policies Video in the ALTA Title Topics series ALTA Procedure ALTA Title Topics: Fraud and Your Trust Account Video in ALTA Title Topics series. ALTA Title Topics: Importance of Three-Way Reconciliation Video in ALTA Title Topics series ALTA Webinar on How to Document Trust Account Policies ALTA’s Best Practices Resource & Documentation Page

NC Attorneys: What You Should Know - Issues to Consider & Discuss What You Should Know; Issues to Consider and Discuss

Resources - Articles, Contacts, Websites, Statutes, Ethics Rules & Opinions *** FOR AGENTS ONLY - National Agency website (LOGIN REQ) *** Including Agency Insights newsletter, Training (Title Loss Reduction, Title Insurance, Reconciling Your Escrow Account, among other items) and other materials. *** FOR AGENTS ONLY -- NC ftp site (LOGIN REQ FIRST) *** Best Practices Boot Camp #1 Webinar by Real Estate Data Shield, RynohLive and DataMotion detailing data, information, escrow and email security. Chicago (FNTG family) 3-way reconciliation - explanation & example Chicago (FNTG family) resources / partnered or preferred vendors Trust account tracking, verification, reconciliation, training; background checks and HR support services Ethics Rules, Opinions, Trust Account Handbook, Reconciliation Services, Software, Background Checks & More! NC State Bar, Trust Accounting Handbook & Materials RynohLive - Absolute Escrow Protection SoftPro - software, service and training Two Minute Tips - Trust Account 3-way reconciliation (Oregon Bar)

Sample Checklists Sample Audit Checklist (3-17-14) Sample Trust Account Controls Checklist (3-17-14) Simplified Trust Account Controls Checklist & Procedure (3-19-14)

Forms

Sample Policies and Procedures Sample Policies & Procedure (updated 4-28-2015)