Company expands service nationwide; completes county requirements database
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 today that the company would expand its eRecording services to include nationwide eRecording of mortgage documents. The company has been eRecording mortgages for some time, but it solidified its reputation as the industry leader by eRecording lien releases, assignments and many other document types while achieving the highest document compliance ratio in the business. Now, the company will handle the last mile for mortgage originators with a newly completed county requirements database.
“As more lenders work to achieve the digital mortgage, eRecording becomes essential to maintaining a fully electronic workflow,” said NTC Chief Executive Officer John Hillman. “This is made much more difficult by the fact that County Recorders in each of the 1,700 jurisdictions in which we most often eRecord documents all have different requirements. Because we have achieved such a high rate of compliance for servicers, it just makes sense for us to offer our expertise to originators and now, with the completion of the database, we can.”
The last mile for the loan origination process, getting the important mortgage documents into the public record, has been a challenge for lenders in the past. However, lenders know that there are many benefits to sending documents to the public record electronically. These include reduced costs, shorter timelines, easier compliance checking due to electronic audit trails, faster notification of problems and guaranteed recording confirmation. Hillman pointed out that failure to follow a set of best practices would quickly erode these benefits and possibly result in compliance problems.
As part of its eRecording offering for mortgages, NTC provides:
- Cost savings for Second Mortgage/Home Equity lending processes
- Nationwide coverage
- eRecord established in over 1700 counties
- Accurate recording fee and mortgage tax calculations
- Expedited walk in recording available
- 100% recording confirmation
- Able to manage volume fluctuations without SLA impact
- Document quality check for county requirements
“It really comes down to accuracy and attention to detail,” said Dave LaRose, NTC’s Vice President of Technical Excellence. “This is only possible with focused training and careful oversight, which is why we train continuously and monitor meticulously. This is the reason that we can eRecord 70% of the documents we touch and have achieved the unprecedented 99.98% statute compliance rate and .77% reject rate at all 3600+ counties, nationwide. No one else comes close to this level of document compliance.”
To find out more about receiving the many benefits eRecording can offer your institution, visit NTC’s website today.
Nationwide Title Clearing, Inc. (NTC) is a privately-owned leading research and document-processing service provider to the residential mortgage industry. NTC services the nation’s top mortgage lenders, servicers, investors and custodians, resulting in an expansion that is also tied to its contribution to its industry and its local community. NTC has won the Tampa Bay Times Top 100 Workplace Designation five times in its history and been listed among the top 200 companies in Tampa Bay twice. For more information, visit the company’s website at www.nwtc.com.