Title defects are now accessible online because of numerous complaints within the real estate industry. One of the reasons for hosting the Title Defects site is because of wrongful foreclosures or slow transition of assets from one party to the other. According to (NTC) Nationwide Title Clearing executives, original titles reduce the risk of buybacks or foreclosure.
Title defects mostly occur when one entity claims property that is not there’s. There are still other factors that contribute to an invalid title which includes
Wrong wording in the title that does not meet real estate rules and regulations of a particular area
Lack of a party’s signature
Previous owners still present in the title.
Not following filing procedures when recording real estate property documents.
Addressing title defects prior to the sale of a property is the key to a smooth transition. Nationwide Title Clearing in an effort to help the mortgage industry has made the following property reports available via online ordering:
Tax Status Report
Verification Report Services
Ownership & Encumbrance Report
On their website, they’ve made sure that the process of getting these documents is simple. The property reports on this site are actual land records that are accessible for any property in the United States.
Nationwide Title Clearance gets its data from numerous sources during its verification process. This practice has given Nationwide Title Clearance the ability to service most of the biggest lenders in U.S. under the intensely audited compliance regulations. NTC success is as a result of having an end-result understanding of its client’s needs and so customizing a property report to meet their demand.
About Nationwide Title Clearing Incorporated
Nationwide Title Clearing is a leading document research and processing service provider to the residential mortgage industry. NTC serves investors, eight residential mortgage service providers in the U.S, and mortgage lenders who contribute to its local community and industry. Dave LaRose is Nationwide Title Clearing Vice President of Technical Excellence. For 30 years he has been in the industry accumulation experience. He’s also NTC’s resident expert on training and quality. NTC’s reject rate on their issued documents is under 1% because they seek perfection in their results.
NTC’S training is customized to make the whole ecosystem of the residential mortgage lending industry understandable to its workers and clients. The advantages of NTC’s training are clear, given the firm’s 99.9% compliance rate across its line of services.