Title defect is a chief concern in the real estate business. Stakeholders in the market feel that it is a primary cause of wrongful foreclosures as well as stalling of the transition of assets. Senior officials of the NTC say that property records are the fundamental requirement for clear title conveyance. They also play a significant role in curtailing the risk of a buyback.
Several reasons can render a title invalid. Below are the most widespread.
- An individual or entity laying claims to property owned by someone else.
- Missing the signature of a party crucial to the transaction, a spouse for instance.
- Issues with the choice of words in the document, leading to con-compliance with the real estate standards of a particular region.
- Failing to follow the filing and recording procedures of real estate documents.
- The presence of liens and other encumbrances.
Easy Access to Property Reports
NTC has laid down procedures for easing the process of securing property reports. On launching an updated website, the firm made various property reports accessible online. These records include current owner report, assignment verification report services, tax status report, and tax status (plus) report.
John Hillman, the NTC CEO, says that the company aims at providing a straightforward approach to securing property records. They back their property research files with extensive research on actual land records and are available for all residential property across the nation.
NTC compiles data from various sources in an automated process, which experts conclude with human verification. This kind of diligence has enabled NTC to service the most renowned mortgage lenders in the United States under the deeply audited compliance regulations.
According to NTC, their property reports produce accurate results for what they were intended. The firm carefully analyzes every situation to obtain an in-depth understanding of client needs and then matches it to the most appropriate data sets for optimal outcomes.
Nationwide Title Clearing Overview
Nationwide Title Clearing, Inc. (NTC) was established in 1991 in Palm Harbor, Florida. It is an unsurpassed research and document-processing provider for the residential mortgage sector. The firm serves lenders, investors, and servicers in the industry. Most of the top ten residential mortgage servicers in the United States are clients of NTC.
The firm provides profound research services and flawless document processing which meets the standards of the mortgage industry. It protects homeowners, assists the mortgage banking industry and preserves the American land records. NTC emphasizes on providing research and audit for land records, property reports, assignment services, lien release, tracking and retrieval of documents, and other custom business solutions.