For a long time, the real estate market was faced with lots of title defects causing a major concern in the industry. Many people felt that these defects slowed transitions of assets in the secondary market contrary to the expected smooth flow, while others felt there were wrong foreclosures. Nationwide Title Clearing Inc. responded to these calls by availing property reports online upon ordering. The executives of NTC explains that property records have the power to reducing the buyback risk, inability to foreclosure, and also holds the key to ensuring a clear title conveyance.
NTC applied its mandate as the leading researcher and document processing provider in the mortgage and financial industry to simplify property reports securing process. They achieved this by updating their site to make reports available online upon request. This step by NTC stopped defects such as a person or entity requesting documents for a property owned by another person.
The move to take call for action to the several defect claims in the real estate industry helped resolve the following issues that can render a title invalid;
- Simple wording issues within the document that do not comply with an areas real estate standards.
- Missing signature from a necessary person for the transaction to go through such as a spouse.
- Failure to free the title from previous liens or encumbrances which make the unmarketable.
- Failure to follow the right filing procedure when recording real estate.
John Hillman, the NTC CEO noted that it is necessary to address the title defects before selling any property. This was pointed after making the following documents available online;
- Tax Status Report.
- Current Owner Report.
- Tax Status (Plus) Report.
- Assignment Verification Report Services.
John gave the assurance that NTC reports are based on data obtained from multiple sources which is all verified both by human and automated systems. This verifications ensures accuracy of all report provided by NTC.
About Nationwide Title Clearing Inc.
NTC is a private owned and the leading provider of research and document processing services based in Palm Harbor, Florida. The company which was started in 1991 offers its services to mortgage lenders, investors, and servicers.
The company provides its services nationwide with the use of experts who track all details of a property to ensure it meets the county’s document requirements. Among the reports it provides are property reports, land record research, assignment services, lien release services, final document tracking, and document retrieval.