The Nationwide Title Clearing Inc. (NTC) is a pioneer in the provision of document processing and research for the financial and mortgage industries. The firm has established an online site where individuals can order property reports. The main reason for launching the website was to solve a long-term problem where titles had defects within the real estate industry. This had consequently resulted into unfair foreclosures and delayed changeover of assets in the secondary market. NTC’s executives pointed out that records on property acted as the basis of a clear title conveyance. Title defects minimize the possibility of buyback occurrence or foreclosure failure. Mostly, title defects tend to occur whenever an entity or an individual makes a claim on a property that is already owned by another person.
Other factors contributing to title defects include mistakes in wording in the document. As per the real estate standards within a specified location, the omission of an essential signature, inclusion of past encumbrances, and erroneous filling procedures, or document recording may lead to title defect. NTC’s executive head, John Hillman, insisted that it is important to make a keen observation on title defects before committing to selling a property. Through their up-to-date website, investors can access property reports, such as Assignment Verification Report Services, Report on the Current Owner, and Tax Status Report.
NTC makes use of various sources to gather their data, with county offices being the key information source. By combining automation with human verification, the firm has been able to successfully serve various top lenders in the U.S. using the audited compliance regulations. Hillman stated that the property research services of NTC are as a result of a thorough research conducted from the original land records and available to any residential asset countrywide. The NTC officials claimed that besides the accurate results they provide, clients might also gain from a financial assessment report that the firm offers.
About Nationwide Title Clearing Inc.
The NTC provides expert audit, document processing, and research services to servicers, investors, residential mortgage servicers, and mortgage financiers in the U.S. It provides document services that include research services not limited to document retrieval, abstractor services, and final document processing. NTC also prepares report such as current owner, tax status reports, lien verification, and assignment verification. Lien assignments and release, audits and remediation, as well as collateral file audits, fall under document services.