Thursday, January 28, 2021

The Curative Vault Solution

Is your custody process complete? Why settle for just file storage and inventory of your collateral when you can have a complete solution? NTC’s customized services not only review collateral to real-life industry standards, but also remediate exception reports and perfect your collateral. 

NTC is able to give you a more robust process by chasing down missing documents from sellers, verifying lien positions and assignment chains against land records, actually CURING the assignment and endorsement exceptions and  facilitating any needed documents (allonges, lost note affidavits, title policies, etc.) to support loan sales and other life of loan events.


Secure Storage Facility:
With a capacity of up to two million files, NTC’s vault satisfies all custodian requirements including (1) Two hour fire rating, (2) UL Fire Rated Floor Space, (3) VEDSA Fire Detection, and (4) Separate Badge Access and Security System. 

File Intake and Review:
NTC’s file intake process inventories collateral files, images its contents, audits each document to your specifications and identifies all remediation needed to perfect the file.  This service, incorporated into an overall exception tracking and remediation process, ensures that your files are complete and ready for shipment to a buyer.

Exception Curative Services:
Unlike traditional custodians, NTC has services available to remediate virtually all exceptions noted during an audit, including title policy recovery or replacement, recorded document retrieval, assignment chain curative services, 3rd party document chasing (from closing agents, underwriters, prior servicers and sellers), allonges, Lost Note Affidavits, and more. The comprehensive solution is integrated with our collateral services in order to perfect the collateral files for sale (or securitization) and increase the overall value of your loans, while also minimizing side-letter items and hold backs. 

Comprehensive Document Tracking:
NTC has integrated tracking the receipt and status of files and documents across all services.  Therefore, if an order is received for any ancillary service, the status of the collateral file will be considered and then updated accordingly.  For example: when NTC receives a recorded assignment, it will be filed into the collateral file and the collateral records will be updated to reflect the new Lender of Record, if appropriate.  This integration will maintain an accurate record of all loans at all times - regardless of their disposition.

Trailing Documents:
For each document received, NTC audits, images and indexes it as needed.  This information is then updated to each loan record to reflect not only receipt, but the impact to the collateral exception report.  This process is also responsible for making sure that the image file retained by NTC is an exact match to the paper file at all times.

File Request Module:
File requests are tracked as to who is making the request, shipment tracking info and receipt acknowledgement of each file.  This information is retained within NTC’s system so that we can account for location of all files from request to receipt.  Requests can come from several different sources for payoffs, charge-offs, foreclosures and loan transfers.  Files shipped and then returned to NTC are re-audited and tracked through this module to identify any changes in the file since it was originally shipped. 

Loan Transfer Assistance:
NTC can provide the assignment of mortgage process, MERS status validation and any allonges required. NTC also provides assistance with getting the files to the buyer for review purposes and answers to rebuttals on initial exceptions, including post sale tracking of exceptions, in conjunction with the asset sale team.

Imaging and Indexing:
NTC has both in-house and on-location imaging services that not only support the contracted services, but also supports special projects as needed. NTC will integrate with your servicer’s and/or buyer’s imaging system to provide images of both collateral files and curative documents in a format that can be easily ingested.

Pre-Purchase Due Diligence:
The above services can be customized to provide thorough due diligence for any buyer.

Contact us today for information regarding our services!
Nationwide Title Clearing, Inc.
800-346-9152 x310



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