Considering all the new regulations that require stringent vendor controls, now is good time to assess your lien release vendor relationship and ensure your process is compliant. Nationwide Title Clearing recently released a white paper entitled, "Best Practices for Managing a Lien Release Provider" to help mortgage servicers manage this process. You may find the white paper informative whether you are a current NTC client, manage the process in-house or use another provider.
The white paper covers best practices for managing third party service providers for the processing of lien release documents, especially under new OCC, CFPB and National Mortgage Settlement requirements.
Some of the topics in the white paper include:
- Benefit of Using a Third Party for Lien Releases
- Controls to Manage Authorized Signers
- Managing Lien Release Forms Nationwide
- Value Proposition for Lien Release Outsourcing
- Best Practices for Choosing a Lien Release Partner
Evaluating a vendor on their compliance controls and standards is no easy task. A cookie-cutter approach is not recommended, each vendor is not the same and each practice has its own unique set of challenges. New regulations require that you have controls in place to manage your vendor relationships on a whole new level. Being prepared for those changes is critically important.
To learn more, click here to access the new Lien Release white paper today.
Nationwide Title Clearing handles all the lien release document details for mortgage servicers, working closely with county recording jurisdictions. We ensure it is done right and offer accountability from beginning to end. What makes us stand out is our comprehensive indemnity coverage. You are protected, because we stand behind our work.
