Nationwide Title Clearing, Inc. (NTC) announced that it was taking action regarding the issues on title defects by using online ordering to make property reports readily accessible in June 2014. The issue of title defects was a major reason for concern in the real estate market. It has led to wrongful foreclosures and stagnation of smooth assets transitions in the secondary market. The Executives of NTC said that property records are important in making sure there are a clear title conveyance and the reduction of the risk of buyback and the incapacity to foreclose. NTC is a top document and research-processing provider in the financial and mortgage industry. NTC has worked towards ensuring that the process of securing reports for the property is simple. The company launched an updated website recently in its action to make property reports readily available online.
Title defects can occur due to some factors. They include:
- Issues in regards to wordings in the documents that fail to comply with standards of the real estate for that particular area.
- Not including the signature of a required party like a spouse.
- Not following filing or recording procedures at the time of recording the documents of real estate.
- Failure to remove previous liens or other encumbrances.
John Hillman is the CEO of NTC. He said that it is important to address title defects before any transactions to avoid the above reasons. NTC now avails the following property reports through online ordering:
- Tax Status Report
- Assignment Verification Report Services
- Tax Status (Plus) Report
- Current Owner Report: O&E- Ownership& Encumbrance Report
John Hillman stated that the mission of NTC is to offer quick, simple, and step by step process of acquiring property reports. He added that they base their property report services on research done from actual land records and any residential property in the whole nation can access them.
NTC was founded in 1991. It is located in Palm Harbor. The company is privately owned by services investors, mortgage lenders, and servicers. NTC has a reputation for providing research services and document processing of the highest quality with the highest level of accuracy. The company is committed to protecting homeowners, offering help to the mortgage banking market, and to preserving the land records of the country. NTC won the Inc. Hire Power Award for the second year in a row in 2013.