Nationwide Title Clearing and Title Industry Veterans form Lenders Title Solutions, a national title company

New joint venture offers life-of-loan services solution from closing to payoff

July 14, 2010 - Nationwide Title Clearing (NTC), a leading post closing services provider for the residential mortgage industry, and key title industry veterans and founders of TransContinental Title have formed a new national title company, Lenders Title Solutions (LTS). The new firm's core focus is on providing high quality/high service level title and closing services in all 50 states to lenders across the country. Together, LTS and NTC will offer the industry's first workable life-of-loan service package from the moment the loan is closed until it is paid off and released. NTC clients who close loans through LTS are provided unique trailing document guarantees that don’t exist elsewhere in the industry.

“This is the first time a service provider like Nationwide Title Clearing has joined forces with a title company in this way,” said Jeremy Pomerantz, Senior Vice President of Nationwide Title Clearing. “After researching and retrieving millions of missing title-related documents, we know our customers are feeling pain here. This new partnership will relieve that pain and expense at the root of the issue. Participating lenders who close loans with Lenders Title Solutions are automatically provided Nationwide Title Clearing’s industry leading final/trailing document services to track the mortgage and title policy after closing, and the lender will never have to pay for missing documents again. The NTC bundled services with LTS include document tracking, imaging, audits, corrections, retrieval and delivery.”

Nationwide Title Clearing and Lenders Title Solutions partnership results in a true life of loan solution and savings for customers. The unique integration between Nationwide Title Clearing and Lenders Title Solutions allows the two firms to offer drastically improved processes and downstream efficiencies to lender clients that use both companies.

Nationwide Title Clearing is a leading national post closing services provider and has formed a partnership with Lenders Title Solutions who is a National Title Agent providing closings and insurance in all 50 states.

Lenders that hire both LTS and NTC will see drastically improved processes and downstream efficiencies on the post closing side. LTS, as a title/closing provider, outsources to NTC the Final Documents services for mutual clients. That Final/Trailing Documents service includes full tracking, QC audits, managing document curatives, imaging, and investor delivery.

With this Life of Loan solution the mortgage, title policy and other relevant information is pre-loaded into the NTC system on the front end creating a true post closing solution. This allows lenders to leverage the images and data to their advantage and work directly with NTC for future post closing services (lien releases, assignments, MERS transfers, etc.) at little to no cost.

“This integration brings substantial cost savings to our clients and a level of security that wasn't present in the industry before,” said Chris Sketch, Executive Vice President at Lenders Title Solutions. “We have a great partner in Nationwide Title Clearing and we look forward to releasing innovative new service offerings in the days ahead.”

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