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.
Nationwide Title Clearing, Inc. (NTC) was recently recognized for its contribution to creating more American jobs; the high number of employees hired in the past three years landed them a spot on the 2012 Inc. Hire Power Awards. With the unemployment rate in the United States dropping to the lowest it has been in almost four years at 7.8 percent, it's no surprise that Inc. Magazine distinguishes businesses who have helped to make that happen (1). In December, 2012, Nationwide Title Clearing Inc., (NTC), a leading post-closing services provider for the residential mortgage industry, was awarded a spot on Inc. Magazine's 2012 Hire Power Awards.
Nationwide Title Clearing, Inc. experiences unprecedented three-year growth despite one of the worst U.S. economic periods in nearly a century, and earns number 2730 on Inc. 500|5000 list of fastest-growing companies.
Nationwide Title Clearing, Inc. (NTC), one of the country's leading service providers to the mortgage and financial services industry, made the Inc. 500|5000 list at number 2730, despite the fact that the U.S. has experienced its roughest economy since the Great Depression of 1929. Inc. magazine, one of the few major business magazines focused solely for CEOs of fast-growing, private companies, unveiled its annual list of the fastest-growing companies in America on August 20, 2012.