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Nationwide Title Clearing, Inc. (NTC) trailing document process was recently highlighted in mortgage industry press. In order to help the mortgage industry avoid noncompliance or loss of crucial documents, Nationwide Title Clearing informed mortgage servicers and lenders how to score their trailing document process and protect homeowners.
To aid the mortgage lending/servicing industry in continually improving documentation processes to provide transparency, Nationwide Title Clearing released a white paper to its industry that provides solutions and tools on how to avoid noncompliance or loss of trailing documents. The news of the white paper received attention by National Mortgage News, DS News and other mortgage industry publications.
Ensuring the trailing document process is completed timely and accurately protects everyone involved in the transaction. Outstanding trailing documents have caused serious problems for certain banks, costing them time and money, and leaving both themselves and homeowners exposed to risk.
The white paper, titled Scoring Your Trailing Document Process & Tips for Efficiency, to give insight on how to score a trailing document process and methods to improve efficiency. The white paper supplies mortgage servicers with the means to evaluate their trailing document process regularly, helping to minimize unwanted attention from regulators and protect their interests.
NTC says it’s been perfecting its trailing document tracking and follow-up processes for years, and has created a unique system for tracking and maintaining the different state and county document requirements for more than 3,600 recording jurisdictions nationwide, including monitoring the average recording turn-around times by jurisdiction. The company’s advancement of the mortgage assignment chain verification process, is another means by which NTC has been developing industry best practices in order to help legislators, mortgage lenders, servicers and ultimately homeowners gain certainty and confidence.
NTC’s business process is based on an eight-part quality control review that is done prior to the recording of accurate post-closing mortgage documents. Company officials say the company’s scoring information for servicers ensures that land records are up-to-date and accurate.
For details on the recent white paper released to the industry on the document trailing process, visit: http://info.nwtc.com/white-paper-scoring-your-trailing-document-process--tips-for-efficiency.
