:: Foreclosure Collateral Management

How organized is your Foreclosure Collateral Management process? Relieve your staff of a mountain of file tracking & protect your company from risk. If you are like most Mortgage Loan Servicers in today’s marketplace, you may unfortunately be faced with processing an unusually large number of foreclosure files and forced to utilize key staff to handle this process.

Many servicers are also faced with additional risk as a result of shipping the original note or other collateral documents to the foreclosure attorney, without effective tracking systems. Extensive foreclosure proceedings of 6-12 months increases the potential for lost files and mountains of collateral files in house.

Nationwide Title Clearing has the solution. Foreclosure Collateral Management Services for Mortgage Servicers provides access to the best industry resources available to manage every step of the process from beginning to end. NTC’s extensive mortgage document experience in file tracking, review, storage and file management is guaranteed to give you the highest level of client satisfaction.

Foreclosure Collateral Management Services Include:

  • Order details viewed & updated live in client system.
  • Review of client’s live image repository database.
  • Chain of title and current beneficiary determination.
  • Ordering of collateral files from custodian or client.
  • Entry and tracking of Foreclosing Entity.
  • Assignment processing to perfect the chain of title.
  • System tracking of receipt of files.
  • Notification of files failed to arrive within time frame.
  • Physical review and audit of files.
  • Preparation of Attorney Trust Receipt.
  • Collateral Documents tracked to the requestor.
  • Lost Note/Mortgage Affidavit execution & processing.
  • Note Allonges execution & processing.
  • Lost Assignment Affidavit execution & processing.
  • Fireproof vault storage of Collateral Documents.
  • Indemnity protection for Collateral Documents.
  • Processing and tracking of Paid in Full loans.
  • Optional lien release processing services.
  • Reinstated loan processing and reconciliation.
  • REO processing and shipping to custodian.
  • Continual live updates to client’s internal system.
  • All tracking information retained at the order level.
  • Secure website access to loan status information.
  • Coordination with Foreclosure Outsourcers.

Benefits of Foreclosure Collateral Management Services:

  • Elimination of risks as result of shipping the original note or other collateral documents to the foreclosure attorney without proper tracking.
  • Access to effective tracking systems for all documents and files
  • Eliminating the potential for lost files and mountains of collateral files in house due to extensive foreclosure proceedings lasting 6-12 months.
  • NTC provides a single source for providing attorneys any documents they need to complete the foreclosure.
  • Improved turn-around time in ordering or creating documents and sending files to foreclosure attorneys.
  • Live updates performed directly in the client’s internal system for immediate use by client’s staff to see current file status.
  • All of NTC’s services include custom integration with client systems, as available.
  • Improved procedures throughout the process that lower costs.