NTC comments on best practices to stay in compliance with the August 2014 CFPB bulletin on mortgage servicing transfers.
Palm Harbor, FL (PRWEB) October 16, 2014
The Consumer Financial Protection Bureau (CFPB), on August 19, issued a compliance bulletin and policy guidance titled: Mortgage Servicing Transfers. The guidance replaces the earlier document with the same title, and directly addresses the highlighted concerns that the transferor and transferee in all transactions involving MSR or whole loan sales are jointly and separately responsible for the integrity of the data and documents of all loans involved in the transfer. The document puts particular attention on loans involved in residential mortgage servicing transfers with pending loss mitigation activities.
NTC celebrates company growth by earning number 2,097 on the Inc. 5000 list of fastest-growing companies.
NTC (Nationwide Title Clearing, Inc.), a leading research and document-processing provider for the mortgage and financial industry, made the Inc. 5000 list at number 2,097 for the third consecutive year, prompting NTC officials to state that the recognition validates the company’s business practices put in place to cement a positive impact on both the local and national economies. Inc. magazine unveiled its annual list of the fastest-growing companies in America on August 20, 2014.
Despite the slow recovery of the U.S. economy, NTC has managed to maintain company growth and officially satisfied the specific criteria companies must meet in order to be eligible for the Inc. 5000 list, including generating at least $100,000 in revenue in 2010 and at least $2 million in revenue in 2013.
In its eighth blood drive to date, Nationwide Title Clearing, Inc. employees honored the company’s commitment to imparting a positive impact on the surrounding community by donating 55 pints of blood to save the lives of individuals in need.
On July 18, NTC (Nationwide Title Clearing, Inc.) hosted a company-wide blood drive in which employees donated 55 pints of blood, surpassing all previously-established donation records for NTC. Since each pint helps to sustain life for as many as three people, the donations are enough to help save the lives of up to 165 people in need. Overall, NTC employees have donated 349 pints of blood due to the numerous blood drives held over the years, helping a total of over 1047 people.
NTC participated in its 5th consecutive 2014 Relay For Life of Palm Harbor & Tarpon Springs event in an effort to benefit the American Cancer Society’s research for a cure and to also bring awareness to the fight against cancer.
According to the American Cancer Society, an estimated 1.7 million new cancer cases will be diagnosed in the United States in 2014. (1) NTC, a leading research and document-processing provider for the mortgage and financial industry, has long been a proponent of advancing cancer studies in the search for a cure, and the company has further demonstrated its commitment by participating in its fifth consecutive Relay For Life of Palm Harbor & Tarpon Springs event to increase awareness and fundraising efforts to benefit the American Cancer Society. The 18-hour, overnight event was held Friday, May 9 at 6:00 p.m. at Palm Harbor University High School. NTC’s final fundraising tally of $12,177.94 was an increase over last year’s total of $10,183.48, bringing the company’s lifetime Relay For Life fundraising total to $55,226.29.
NTC addresses how to avoid potential notary issues by detailing the best practices that help ensure compliance with notary regulations.
Per the National Notary Association, “Notaries are duty-bound to protect the public by handling each notarization with a standard of care that often goes beyond state requirements,” (1) a standard of care which rings true but is not always met, according to officials at NTC (Nationwide Title Clearing, Inc.), a leading research and document-processing provider for the mortgage and financial industry. In recognition of the potential legal risks involved with improper notary practices, NTC executives have delineated and simplified what can be a stressful process into a practice easily accomplished with a set of company-wide standards.