Nationwide Title Clearing (NTC) has announced changes to their website that will improve accuracy in document processing and offer better service to both the homebuyer and the mortgage lender. NTC is an award-winning provider of document services for the residential mortgage industry and has decided to address the problem of title defects. Title defects have become a major concern for the mortgage industry; a defective title can cause problems for both the borrower and the lender. A defective title can lead to issues such as wrongful foreclosures, create a slow transfer of a property and impede the home buying process. NTC executives realize the key to ensuring a smooth transfer of assets is a clean title.
There are several reasons why a title might be declared invalid. The most common defect occurs when a person or entity claims ownership of a property that is still owned by another individual or entity. However, there are other mistakes made that will cause a defective title. The document does not comply with the standards outlined in the area the property is being sold, encumbrances such as liens are still showing, incorrect filing procedures used, or simple issues such as a missing signature can cause a defective title.
There will be four reports available, an assignment verification report, a current owner report including an encumbrance report, a tax status report including a tax status plus report. NTC will gather data from several sources for these reports, including the counties involved using automation and human verification to assure the accuracy of the reports. This online service will further NTC’S ability to support the largest lenders in the country with reports that meet the heavily audited compliance regulations as well as preserve our nation’s land records.
Nationwide Title Clearing is a privately held company that specializes in research and document-processing services for the residential mortgage industry and provides services to eight of the top ten residential mortgage services in the United States. Founded in 1991, and based in Palm Harbor, Florida NTC is well known for providing documents that are highly accurate that protect the homeowner as well as the mortgage banking industry. NTC provides property reports, including, lien release services, final document tracking, assignment services, and document retrieval for every recording jurisdiction in the country. They are among the fastest growing companies in the Tampa Bay, area.
Follow Nationwide on LinkedIn