Having docs in order smooths compliance, investor delivery and loan sales. In addition to providing readers with a 12-part scoring methodology, the White Paper also provides information on effective document tracking, document research, including setting up a national network of abstractors, and document-related quality control.
(Palm Harbor, FL) January 30, 2017 – Nationwide Title Clearing (NTC), the leading post-closing services provider for the nation’s largest financial institutions, investors, servicers and custodians, has re-released its most viewed white paper to help lenders score and evaluate their trailing document process. The paper also offers helpful tips to improve those processes. It was originally published in 2014.
“Evaluating your own trailing documents process regularly is a best practice that will help your company avoid negative attention from regulators and help you maximize the return from limited resources,” said Chelsea Seguin, NTC’s Assistant Vice-President of File Services and co-author of the white paper. “There are many potential savings and efficiencies to be realized if lenders take the time to look for them. This is true whether they handle these processes internally or outsource them to a qualified vendor partner.”
In addition to providing readers with a 12-part scoring methodology, the paper also provides information on effective document tracking, document research, including setting up a national network of abstractors, and document-related quality control.
Seguin pointed out in her paper that some financial services firms that find these functions too time consuming or costly have been successful in outsourcing them. She calls outsourcing a “good option if you are in need of an immediate solution and concerned that you will not be able to establish it quickly enough.”
In the paper, she states that a reliable outsource vendor should afford the lender with all the benefits of a technically advanced system and process without forcing the lender to build, manage and maintain one on their own. Outsourcing is often the most cost-effective option when looking at the loan from a cradle-to-grave perspective, she said. Specialized service providers can also provide services later on in the life of the loan (such as assignments or lien releases), which makes the option even more attractive.
For a copy of the White Paper, visit the company’s website.
Nationwide Title Clearing, Inc. (NTC) is a privately-owned leading research and document-processing service provider to the residential mortgage industry. NTC services 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. For more information, visit the company’s website at www.nwtc.com.