A detailed analysis of client costs reveals more than 50% savings with NTC Research Services
PALM HARBOR, Fla.--(BUSINESS WIRE)--Nationwide Title Clearing (NTC), the leading post-closing services provider for the nation’s largest financial institutions, investors and servicers, announced the results of another internal study that supports its claim of saving its clients money, this time on research services. Earlier this year, the company performed an internal study to determine the true cost savings the company was capable of delivering its clients on lien release and its final documents services. In that study, NTC delivered cost savings of 54% and 46%, respectively. The details for both studies are now available to clients and prospective clients.
“Every NTC client knows that they are saving money by working with us, but we feel it’s important that they know how much they are saving,” said NTC Chief Executive Officer John Hillman. “It requires a comprehensive study to determine exactly how much a company is spending internally on a function and we underwent our study with the same diligence that our clients would. After a careful analysis of all of the factors that go into the completion of the work we do for our clients, we were very pleased with the results. It goes without saying that our clients were as well.”
NTC’s client services team discovered that the company generated cost savings of over 50% on Research Services they performed for them versus their internal costs. In addition, NTC was able to perform 87% of the client’s orders online by utilizing its finely tuned data sources, which the company has been refining for over 25 years.
These savings did not come at the expense of quality or compliance, which for Nationwide Title Clearing is still within 1 tenth of 1 percent of perfect.
NTC also wanted to know exactly where these savings were coming from, because management knew their customers would ask. Some of the cost factors considered were FTEs, timeliness of meeting statute deadlines, reject reproduction, infrastructure and technology, management, mail fees, training, overtime and overflow management, imaging per-page fees, legal and research and abstract. Many other factors were also considered.
NTC recently celebrated its 25th year of innovative service to the mortgage industry and has also been recognized for its excellence many times over the years.