With more portfolios of loans being sold, buyers need to know what’s in the files.
(Palm Harbor, FL) October 05, 2017 – 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 send a team of executives to the Mortgage Bankers Association’s Annual Convention & Expo 2017, October 22-25 in Denver. Among the topics NTC plans to cover with clients and prospects is its Collateral File Audit and Remediation Services.
“Too often when firms purchase portfolios of loans, they fail to audit the paperwork at the county level,” said Michael O’Connell, Chief Operations Officer at NTC. “This impacts the pricing and the quality of the loans. If the documentation is not complete or if something has been recorded that clouds the title, it increases the buyer’s risk. On the other hand, a lower quality loan can be made much more valuable just by completing or perfecting the collateral file. For over 25 years we’ve been supporting the nation’s major audit firms with this critical task and no one does this work better than we do.”
O’Connell pointed out that a complete and accurate collateral file is important whether the loan owner plans to securitize, sell or retain the loan. NTC’s service includes assignment research, validation of lien position, remediation of collateral issues, collateral review and perfection and trailing document intake during transition. When problems are found in the file, NTC begins the remedial process of retrieving crucial documents through the most cost-effective methods possible.
NTC celebrated its 26th year of innovative service to the mortgage industry this year and has been recognized many times for its excellence over the years. Among its accolades have been inclusion in the Inc 5000 list for four years since 2012, inclusion in the Tampa Bay Times Top 100 Workplaces five times since 2011, inclusion in the TBBJ Fast 50 for 2013 and has twice been listed among the Top 200 Private Employers by TBBJ. Numerous NTC executives have also garnered industry recognition for their contributions over the years.
To find out more about NTC’s collateral file audit and remediation services, visit with the team in Denver. You’ll find them in booth 623 on the exhibit hall floor.