About First Trust Accounting
Trust / Escrow Account Reconciliation Services
Our affiliate, First Trust Accounting Services (FTA) will perform your daily as well as your monthly 3-way reconciliation remotely and never requires a visit to your office.
- Monthly 3-way reconciliations
- Monthly reconciliation reports are uploaded to secure website for easy, password protected access, when you permit, by underwriters and other interested parties.
- Daily reconciliation and fraud prevention services, powered by RynohLive (® Segin Software, LLC)
- Escrow account “bring to date” services
- Escrow account trouble shooting and resolution
- Audit preparation and support
- Complies with ALTA Best Practices Pillar 2
Your title insurance underwriter, state insurance commissioner, state banking department and/or your state’s attorney general and now ALTA Best Practices (or some combination of the foregoing) requires that you reconcile your Escrow / Trust accounts on a monthly basis, without fail.
Penalties for failing to do so may include, depending on your state, the loss of a title insurance license and/or law license. Underwriters can and, depending on circumstances, will revoke your title insurance agency or approved attorney status. Failure to timely reconcile will also prevent your Best Practices certification or perhaps loss of certification in the future.
The monthly reconciliation process can be difficult and time consuming and, you are not making money or advancing your business during this time! FTA is widely recognized for its professional expertise in providing clients with timely and accurate Escrow/Trust account reconciliation reports and doing so in a cost effective and efficient manner.
FTA’s reconciliation reports are accepted by all of the underwriters as well as state insurance regulators. FTA’s services fully comply with ALTA Best Practices, Pillar 2.
Interested in how First Trust Accounting can help free up your time? Click below to submit a request for pricing or more information.