Nationwide title clearing, Inc. got concerned about the title defects which made them ensure property reports are accessible through online ordering. Some of the stakeholders felt that the problem was causing illegal foreclosures whiles others believed it was triggering the stagnation in the secondary market.
Executives from the Nationwide Title Clearing, Inc. (NTC) say that to ensure clear title transference and minimized risk of the buyback, proper property records got to be maintained. The company has taken the initiative to simplify the process involved in securing the property reports where they launched their updated website which had all property reports online. Here are other factors that can render a title to be invalid:
- Wording in the document that does not match the real estate standards
- Non-inclusive of a signature of necessary party in the transaction, for instance, a spouse
- The existence of prior liens or any other hindrances in the documents. They got to be removed.
- Failure to follow the filing and recording procedures on the real estate documents
John Hillman, the CEO of NTC, says that it is necessary to address the issue of title defects diligently before concluding a property transfer transaction. To overcome the title defect issue they came up with the following to improve the mortgage industry reputation:
- Ensuring that property reports are available online
- Providing assignment verification service
- Providing ownership and encumbrance report
- Providing Tax status reports
Nationwide targets to provide the easiest and fastest process for securing properties. Hillman says that their reports on the properties are based on research carried out on the actual land records and are available for any residential property across the nation. NTC gets the data they post from many sources including the counties and an automation combined with human confirmation. This has helped the company to service well the largest leaders in the United States under the crucial and the extensively audited compliance principles.
Their success is highly attributed to the understanding of their clients’ needs and matching a property report with the actual set of data.
About Nationwide Title Clearing, Inc.:
Nationwide Title Clearing, Inc. is based in Florida and was founded in 1991. The company is privately owned and leads in providing research and document processing service for the residential mortgage industry. Their services set the industry’s standards that in return protects homeowners, assists mortgage banking industry and preserves land records in the country as well. The company has been ranked number 26 on the Fast 50 Awards list of fastest growing companies in Tampa Bay in 2013 and has received several other awards.