Reconciliation Reports & Services

Ensure compliance with ALTA Best Practice #2 by putting trust account reconciliations in the hands of experienced, trained professionals

Is your organization always able to identify and prevent theft surrounding title insurance and closing service transactions?  Do you have your own enterprise risk management and auditing guidelines for preventing escrow and title insurance theft? Are you always prepared for an audit?

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Our team will review your trust account to ensure that it is in sync with monthly bank activity, and also provide the critical reconciliation reports required by your state and underwriters. Our Daily Trust Account Reconciliation Service provides an extra layer of fraud protection, alerting you of any irregularities on your trust accounts. This simple and affordable solution allows you to spend your time more profitably and focus on your core business.

Monthly 3-Way Reconciliation

• A complete 3-way reconciliation, reconciling Bank Balance, Book Balance and Escrow Trial Balance will be completed.
• A reconciler will work with you on clearing any outstanding and/or exception items.
• Preparation of Escrow Trust Accounts with Trial Balances.
• Lists of all open escrow balances. The trial balance provides information on all files with open balances including those files with old balances and negative balances.

Results of the reconciliation are delivered to you on a monthly basis. Reports include:

• Escrow Reconciliation Summary Report
• Escrow Trial Balance Report
• Book Balance Report
• Statement Proofing Register
• Receipts & Disbursements Report
• Bank Adjustments Report
• A segregation of duties ensuring the reliability of the reconciliation, by providing an independent reconciler other than those with signing authority.
• Availability of electronic accessibility by Company’s contracted underwriter(s).

Daily Reconciliation Services

In addition to everything you receive with Monthly 3-Way Reconciliation, Daily Reconciliation also includes:

• An extra layer of protection against fraud, alerting you of any irregularities on your trust account.
• A daily reconciliation of receipts and disbursements.
• Daily clearing of all items that do not require investigation or additional information.

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