DATA SECURITY & PRIVACY AT
Monarch Title, L.L.C. takes your data security and privacy seriously because it is important to us. Please read further to learn the steps we take to protect your data and your privacy.
How does Monarch keep my information secure?
Monarch Title, L.L.C. uses Qualia as its file management software. Qualia is cloud-based platform that is consistently regarded as the leader in privacy and security practices among technology platforms in the real estate industry. A few of Qualia’s recognitions include:
ALTA’s Best Practices Pillar 3 for Privacy
SOC 2* Information Security Certification
ISO/IEC 27001** certification
These recognitions affirm Qualia’s system and suitability of the design of controls for security, availability, processing integrity, confidentiality and privacy. Other large, high-quality companies including Amazon, Oracle, and Microsoft use the same independent validation to maintain stringent safeguards.
How is cloud more secure than on-premises software?
Our Qualia account benefits from regular security assessments, continuous patching, enterprise level backups and additional security features built directly into the platform.
Who has access to my customer data?
Only Monarch Title, L.L.C.’s staff working directly with your file. Qualia leads the title industry in data privacy. Qualia brought in an ALTA Elite Provider CPA firm to audit Qualia’s security and privacy practices to confirm all data management and access complies with SOC-2, ISO/IEC 27001, and ALTA Privacy Best Practices Pillar 3 standards.
Does Qualia sell customer data that's in the platform?
No. Qualia leads the title industry in privacy and security protections. Unlike other software providers that simply say they keep your data private, Qualia has voluntarily undergone independent third-party audits to ensure these benefits for you and your clients.
What are the ALTA Pillar 3 best practices?
The American Land Title Association (ALTA) created a best practices framework that suggests that settlement agents develop and maintain written procedures regarding the implementation, adoption, and maintenance of a privacy and information security program. By using Qualia as their title, escrow, and closing platform for all work and communication, settlement agents can guarantee that ALTA’s best practices guideline is met.
Two-Factor Authentication (2FA)
Our office maintains an extra layer of sign in security by using two-factor authentication to further prevent anyone from accessing our account without permission.
AES-256 Data-at-rest Encryption
Qualia inscription protections are best-in-class so you can be confident your data is secured from external bad actors.
Does Monarch Title, L.L.C. share my information with anyone?
Monarch Title, L.L.C. only shares your information as required by law. These instances include recording into the public records the sale and any necessary lender documents (ie. Mortgage, assignment of leases and rents), and reporting to the United States Internal Revenue Service certain seller’s transaction information.
Additionally, we do not sell your information to anyone and agree that all information relating to you that is provided to us in connection with your transaction shall be held in confidence. Further, we maintain a clean-desk policy and store all paper files in locked cabinets when no active work is being completed on your file.
What happens with my information when my file is closed?
Once your file is closed, we retain a hard copy file that includes one signed original of the Closing Disclosure or Settlement Statement, the Sale, and the Mortgage, if any. All other documents are deposited into a locked cabinet. Then, Iron Mountain collects these documents each month and in an unbroken chain of secure custody, transports these documents for shredding and disposal. A digital copy of your entire file is archived in Qualia so that we can access your documents and information when called upon by you.
*SOC 2 = System and Organization Controls (SOC) 2 is a comprehensive reporting framework put forth by the American Institute of Certified Public Accountants (AICPA) in which independent, third-party auditors (i.e., CPA’s) for an assessment and subsequent testing of controls relating to the Trust Services Criteria (TSC) of Security, Availability, Processing Integrity, Confidentiality or Privacy.
** ISO/IEC 27001 = this is an information security standard promulgated by the International Organization for Standardization (ISO) and the International Electrotechnical Commission (IEC). It is widely known, providing requirements for an information security management system (ISMS). Using this standard enables organizations of any kind to manage the security of assets such as financial information, intellectual property, employee details or information entrusted by third parties.