PALM HARBOR, Fla.--(BUSINESS WIRE)--Nationwide Title Clearing (NTC), the leading post-closing services provider for the nation’s largest financial institutions, investors and servicers, reported today that lenders and servicers it works with are seeking more detailed information on the status of real estate liens related to the properties collateralizing new and existing mortgages. The trend was identified in a study of customer demand for the firm’s Lien Verification Report offering.
“A Lien Verification Report is a versatile offering that lenders and servicers are using to satisfy the reporting of loan status required for many processes,” said NTC CEO John Hillman. “As the industry continues the work of recovering from the financial crisis, properties that have been off the market for years are now moving into the sales or refinance process. With millions of properties affected, accurate information about the status of a lien has become more difficult to attain. It has never been more important.”
NTC clients have been using its Lien Verification Report for both validating the existence of new liens and confirming the extinguishment of inactive liens. The report provides details required to determine next steps for:
- Due Diligence for both purchases and sales
- Validation of newly originated loans
- Lien status reporting for charge-off or blight prevention requirements
- Understanding position for foreclosure determinations.
The reports are created by NTC’s expert team of researchers, validating results personally and avoiding the fuzzy logic or automated data techniques often used by other companies to determine lien positions accurately. By focusing the report on specific client needs, NTC has made these reports a cost-effective solution that eliminates the need to purchase the most common but costly out-of-the-box title search. Copies of pertinent documents are optional depending upon client requirement, however, if not needed; may reduce the overall expense.
To find out more about Nationwide Title Clearing’s Lien Verification Report, visit the company’s website.
Nationwide Title Clearing, Inc. (NTC) is a privately-owned leading research and document-processing service provider to the residential mortgage industry. NTC services mortgage lenders, servicers and investors, including eight of the top 10 residential mortgage servicers in the country, resulting in an expansion that is also tied to its contribution to its industry and its local community. NTC ranked number 13 on the Tampa Bay Business Journal’s 2014 Fast 50 Awards list of fastest growing companies in Tampa Bay, and number 3,108 on the 2015 Inc. 500/5000 list of fastest-growing companies in America. NTC has also won a Top 100 Workplace Award from the Tampa Bay Times, three times in its history. For more information, visit the company’s website at www.nwtc.com.