Nationwide Title Clearing has come up with an innovative way of dealing with the problem of title defects that has threatened to cripple the real estate industry. According to the company’s management, they have launched a new interactive website. The company’s clients will now be able to order for property reports online. This service will hasten the ordering process and ensure the authenticity of the titles.
According to Nationwide Title Clearing (NTC), genuine property titles helps in hastening the transaction process and eliminating wrongful foreclosures. In the recent years, the increasing cases of title defects have forced many potential buyers to halt their purchases. This situation has slowed down the growth of the market. NTC’s strategy will reduce the risk of buyback and the inability of banks to foreclose, as the information on all residential properties in the United States will be readily available.
NTC notes that title defects are caused by different factors. This problem is commonly caused by individuals seeking to claim a property owned by someone else. The wording on the title documents has also been of major concern. In the United States, the wording varies from one area to another. For a title to be valid, it must adhere to the wording requirements of a given jurisdiction. Absence of important signatures such as those of property owner’s spouse has also contributed to title defects. Lastly, many people are seeking for titles without following due process. Such titles end up as defects.
The company’s clients can now access various property reports such as Assignment Verification Report Services, Tax Status (plus) Report, Tax Status Report, and Current Owner Report. NTC has channeled its energies towards developing accurate and up to date reports. NTC sources for the actual land records/data from the counties. They then authenticate such information using both automated and human verification process.
About Nationwide Title Clearing Inc
NTC is a Palm harbor-based research and document-processing firm. The company provides its services to lenders, investors, and servicers. Notably, eight out of ten largest residential mortgage companies in the United States use the company’s services. The corporation’s exhaustive system is able to track property documents in over 3,600 jurisdictions in the United States. Over the years, NTC has been the recipient of different awards owing to its exceptional services. The corporation won the Inc. Hire Power Award in 2012 and 2013. In 2013, the Fast 50 Award listed NTC as the 26th fastest growing company in Tampa Bay.