Nationwide Title Clearing, Inc. has responded to calls for action with regard to title defects by making property reports readily accessible with online ordering. Title defects have become a major cause for concern within the real estate market in recent years, which some feel cause wrongful foreclosures and others feel they contribute to stagnation of what would otherwise be a smooth transition of assets within the secondary market. According to Nationwide Title Clearing, Inc. (NTC) executives, property records hold the key to ensuring a clear title conveyance and reducing the risk of buyback or inability to foreclose.
NTC, a leading research and document-processing provider for the mortgage and financial industry, has taken steps to make the process of securing property reports simple—the company recently launched an updated website, making property reports available online.
Nationwide Title Clearing, Inc. has joined forces with National Mortgage News in an ongoing video series designed to provide a knowledge base about current trends and new regulations in the industry.
Nationwide Title Clearing, Inc. (NTC), a leading research and document-processing provider for the mortgage and financial industry, was recently requested to lend its expertise to an educational video series called “Ask the Experts” on the National Mortgage News website. A total of 12 videos featuring several NTC executives will be released weekly over the course of three months and will cover various topics, including property reports, regulatory compliance, and how to monitor overall risk on lien releases. The first video, which launched mid-March, featured NTC’s Chief Legal Officer Myron Finley, who discussed Enterprise Risk Management (ERM) and its importance within the mortgage industry.
NTC recently attended the legislative meeting held at the Greater Palm Harbor Chamber of Commerce to show continued support of elected government officials, in conjunction with an effort to expand the company's CSR efforts within the community.
Nationwide Title Clearing, Inc. (NTC), a leading research and document-processing provider for the mortgage and financial industry, recently attended the legislative breakfast meeting hosted by the Greater Palm Harbor Chamber of Commerce. NTC officials attended the meeting in furtherance of the company's continuing dedication of supporting and working closely with federal, state and local representatives. In addition to the need to remain informed concerning the issues and opportunities being discussed within legislative bodies, NTC says the session was an opportunity for the company to further its goal of remaining an active part of the local community.
NTC comments on the recently implemented mortgage rules designed to eliminate risky lending practices - NTC predicts the rules will place emphasis on the company's compliance services.
As a result of the questionable lending practices that led to the housing crash, the Consumer Financial Protection Bureau (CFPB) has established a national standard for issuing mortgages. The Ability-to-Repay Rule, designed to protect consumers from debt traps, took effect Jan. 10. Nationwide Title Clearing, Inc. (NTC), a leading research and post-closing services provider for the residential mortgage industry, predicts that the new guidelines will help standardize the industry. NTC officials also maintain that while the new regulations will likely not affect the company's internal compliance processes, company officials expect a greater emphasis on NTC's services that help lenders and servicers comply with the new national servicing standards, such as its various research and property report products.
eRecording is consistently gaining ground in the mortgage industry, and Nationwide Title Clearing, Inc., believes the modern system trumps conventional paper recording by saving valuable resources and allowing mortgage lenders and servicers to increase focus on important issues such as compliance and accuracy.
As a leading post-closing services provider, Nationwide Title Clearing, Inc. (NTC) states that, amidst the changes occasioned by new regulations and compliance standards in the mortgage industry, electronic recording or "eRecording" may make things easier and should not be overlooked as a potential source for relief. eRecording is the process of filing and recording documents electronically with county recording jurisdictions rather than on paper and is a growing trend in the mortgage industry. In addition to eRecording saving environmental resources, staffing resources also become available by alleviating redundant or unnecessary work. Thus, potentially allowing mortgage lenders and servicers to refocus key resources toward important issues, such as compliance to the latest wave of regulations and improving accuracy.