Nationwide Title Clearing Inc is distinguished for its efforts in availing property records online. Title defects are a primary issue in the real estate market with some associating it with wrongful foreclosure while others feeling that it contributes to the stagnation of what would be an easy straightforward transfer of assets in a secondary market. The National Title Clearing Inc staff has stated that property records are necessary for lowering the risks of inability to foreclose or buy back. NTC is involved with document processing and research for the financial and mortgage industry. The organization has taken several steps in making the acquisition of property reports easy. The company has launched a website that makes it possible to access property reports online.
How Title Defects Occur
Although title defects are common when an entity or person claims property belonging to another party, they could also arise due to factors such as:
- Issues with the wording in documents that is not compliant with an area’s real estate standards
- Failing to include a party’s signature where it is required for a transaction
- Previous encumbrances and liens that are part of the title- title deeds should not have any encumbrances if they are to be easily marketed
- Failing to adhere to filing and recording procedures during the recording of documents concerning real estate
Due to the reasons stated above, CEO of NTC, John Hillman, has stated that it is important for such title defects to be addressed before the transfer or sale of property. In a bid to improve the standards of the mortgage industry, NTC has availed the following reports through online ordering:
- Tax Status Report
- Services for Assignment Verification Reports
- Tax Status (Plus) Report
- Current Owner Report
NTC acquires data from different sources which includes human verification coupled with automation. This practice has made NTC able to successfully service the largest lenders in U.S.A. under strictly audited compliance standards. NTC staff says that the strategy has produced accurate results.
NTC was established in 1991 as a private leading document processing and research provider in Palm Harbor (Florida). NTC deals with mortgage servicers, investors, and lender, including most of the top residential mortgage providers in the U.S.
Recently, the Nationwide Title Clearing announced that it will be opening another office in Dallas (Texas). The company will have a new data center, and a disaster recovery center for all infrastructure and data.