The firm has finally created a solution for title defects. The company will now make reports on property available on its online portal. In recent years, issues with title defects have become a major issue. At times, it has led to wrongful foreclosures. Additionally, it has been responsible for stagnation in what should have been smooth transitions of asset transfer.
Nationwide Title Clearing recognizes the importance of property records in ensuring a reduced risk of inability to foreclose and buyback. While title defects are mostly caused by laying claims to property that belongs to another person, other factors can lead to it. For instance, the lack of a signature by a party that is part of the transaction can lead to defects. Additionally, titles with liens are considered defective since they are not marketable. Additionally, disregard to the proper procedure is a common cause of title defect.
By posting property reports on the portal, the CEO of NTC believes that it will be of great help to the real estate industry. Some of the reports provided on the online portal are tax status report, current owner report, assignment verification report, and tax status (plus) report. The reports are prepared using data from multiple sources. The reports provided on the website are prepared using land records kept at land records offices nationwide. Their data sources are both automatic and human verification. It is one of the reasons why NTC is considered one of the most reliable sources of real estate data in the nation. Additionally, most large lenders rely on data provided by NTC.
The company was founded in 1991 in Palm Harbor, Florida. A private company offers document-processing services for residential real estate. Its services are highly sought after by investors, servicers, and mortgage lenders.
The company has document experts in almost 3,600 jurisdictions in the United States. The information provided by the experts assists entities with land records research, lien release, final document tracking, and other business solutions related to land. The company’s’ ability to provide reliable services has seen it grow phenomenally. It has also won some awards such as the Hire Power Awards in 2013 for helping Americans get jobs.