The Nationwide Title Clearing Inc. was founded in 1991 and incorporated in 1992. It is based in Palm Harbor, Florida with new offices opened in Dallas, Texas in March 2016. It is a privately owned entity that specializes in the provision of services in research and document processing, to the residential mortgage industry, to clients such as investors and other mortgage lenders.
The company is well known for offering and ensuring the highest standard of data in research services that is accurate, and that sets the industry benchmark. The company workforce, currently at 150 workers, is competent, well-trained, and able to keep track and adequately service all document requirements in all of the nation’s 3600 jurisdictions.
NTC is also well known for the contributions they make to the industry and their local community. They achieve this through philanthropy, as well as a new industry standard training package that is based on best practices. The training package is offered at the headquarters in Palm Harbor, or the new offices in Dallas.
The primary duty of the NTC is to ensure that any player in the industry is not affected by issues brought about by title defects, which in turn, give rise to problems such as wrongful foreclosures, or cause a hindrance to the smooth transfer of assets and property from one user to another. This has been facilitated by the introduction of a newly revamped website that includes even online ordering of the documents associated with property transfer.
The NTC has over the years taken steps to make the process of acquiring property reports simple. The recent move towards this direction has been the launch of an up to date website, making such reports available online.
Title defects are mainly brought about when a person or legal entity lays claim to a property that is owned by another individual. This is also caused by failure to adhere to the process of filing real estate documents, issues in the wording of such documents, the failure to include the signature or authorization of a party associated with the property or even the presence of previous encumbrances that have not been removed. For the efficient transfer of property, the title should not bear any encumbrances.
Current NTC CEO, John Hillman, stresses the point that it is very prudent to ensure that title defects are addressed well before the transfer, or sale of any property so as to avert some avoidable problems.
The success of the NTC is owed to their complete understanding of the results required by the clients and then tailoring the property reports as per the customer’s specification, and the correct data sets. There is emphasis laid on the process that involves the human element for verification and the automated section, which work together to ensure reports are generated for what they were meant for initially.