Nationwide Title Clearing (NTC) released a report in regards to the complaints raised on title defects, stating that it has availed property records on their online platform for easier accessibility.
In the report, NTC said that defective titles lead to significant concerns in the real estate business due to incorrect foreclosures and slow transactions. Defects of titles also cause delayed transition of properties in subsequent transactions. Nationwide Title Clearing addressed the issue by focusing on asset records, hence decreasing the risk of buybacks, ascertaining clear title transactions and timely foreclosures. The company set up an upgrade of their official website to provide clients with online property records.
NTC acknowledge that complications arising from defective titles are not solely a result of false claiming of property. The firm added to explain that wording that doesn’t meet the real estate standard is also a cause of title complications. Other causes of problems in claims are in the case of missing a signature, inclusion of prior liens and encumbrances and a failure to adhere to the required form filling procedure in real estate recordings.
NTC has ensured that none of the cases will arise in records by uploading the following files to their website:
Tax status document
Tax status (plus) report
Current ownership and encumbrance document
Assignment verification report
Clients and other interested parties can now acquire the reports with ease.
Mr. Hillman stated that NTC’s goal is to offer a simplified, easier and procedural process in securing property documents. He added to say that the firm obtains its records from existing land records in over 3600 jurisdictions countrywide. The clearing firm acquires its records from various sources such as counties. It ensures that the process is humanly verified hence maintaining consistent quality services to leading lenders in the United States even during intense auditing of compliance rules.
NTC assures its clients that the process has accurate results, and entails the financial effect of a customer transacting too many documents that may be unnecessary. NTC began providing research and record-processing services in the real estate industry in 1991.The firm’s clients include mortgage lenders, investors, servicers and the ten leading residential mortgage providers in the nation. The company has earned recognition as the 26th fastest growing company according to the 2013 Fast 50 Awards. It was also position 1900 on the 2013 Incorporation 500/5000 list. In 2012 and 2013, NTC won the Hire Power Incorporation award for providing jobs to Americans.