Nationwide Title Clearing (NTC), a post-closing services provider, announced today the results of an internal study aimed at determining how many of the document research requests the company receives from its clients are sent out to abstractors across the country. The result: surprisingly few. As many as 70% of all tasks are completed by NTC’s own staff, saving its customers both time and money.
“When it comes to document research services, our process is now the best in the industry, allowing us to complete up to 70% of all requests without the need to use abstractor resources,” said NTC CEO John Hillman. “This constitutes a huge cost savings to our clients and saves them time since the vast majority of research tasks need not be sent out to third parties for completion.”
Hillman pointed out that NTC remains very proud of its abstractor network. Over the past 25 years, the company has processed millions of abstract orders through its nationwide network of over four thousand abstractors. But he said that the company has spent years honing its systems in order to offer the most sought-after research services in the industry without the aid of third party researchers. Today, NTC’s ability to couple its team’s unparalleled experience with its advanced technology platforms has resulted in speed and accuracy that dwarfs its competition.
This allows NTC to provide benefits to its customers that no competitor can match, including:
? 2.5 day average turn times
? 100% coverage across the United States
? Low costs due to our ongoing volume as well as least-cost routing
? Simplified, and bulk project pricing available
? Backup abstractors established for most populous areas, scored and then hired based on their ratings for turn time and quality of results
NTC’s processes seamlessly retrieve information, images, copies, or clerk copies of recorded real estate documents from county recording jurisdictions across the country. For title policies, the firm uses a series of escalating title policy retrieval attempts with each applicable title company, closing agent or underwriter. The strategy has translated to a title policy retrieval and title policy endorsement retrieval rate that is second to none. For assignment verification reports, the company has established best practices for reviewing the entire assignment chain, conducting a thorough review of land records, collateral documentation and guidelines (such as loan type, investor rules, etc.).
“We’ve put a lot of time and effort into making our research services the best available anywhere,” Hillman said. “When it comes to extensive land record research in the residential mortgage industry, we are the experts.”