In the midst of the many challenges facing the mortgage industry in 2018, Nationwide Title Clearing developed new products and services to save clients time and money while making them more efficient and profitable.
Much of this stems from the technology NTC has begun to share with the industry on a SaaS basis, making it easier for clients to navigate through their personalized portals and access files.
In addition, NTC opened a 32,000-square-foot secure file storage and audit facility, which is the core piece of its Curative Vault solution. The Curative Vault solution includes file intake and review, exception curative services, comprehensive document and exception tracking, loan transfer assistance and pre-purchase collateral due diligence.
“With the residential real estate business normalizing, we’re still seeing a great deal of distressed real estate change hands. “Trading in non-performing and re-performing loans has also been brisk this year, which made the announcement of our Curative Vault Solution welcome news,” said John Hillman, CEO of NTC. “We have revolutionized document custody to the benefit of both the industry and consumers. It’s an offering we are all very proud of.”
NTC’s operates as a preferred partner with its clients, setting a high bar for its standards and proposing solutions rather than just services, which is one reason the company has averaged 26% growth year over year for the past 10 years.
“NTC is far easier and less expensive to manage as a vendor than most service companies due to our experience in providing our clients everything they need proactively to prove due diligence was thorough,” Hillman said. “We face the same challenges every financial services firm faces today. The difference is that we have the best trained, most experienced executive leaders in the industry.”
OPPORTUNITIES IN 2019
Looking to 2019, NTC will enter the New Year as the largest industry partner for document research and remediation services across the entire lifecycle of a loan, as well as continue its immersion into the technology sector of the industry by implementing new and needed platforms and solutions for clients.
The company will also enhance service offerings for its capital markets, lenders and title industry clients. NTC has successfully established a Life of Loan service platform built upon expertise, knowledge, and experience that reduces redundant tasks, controls data entry points, and – most importantly – is paperless after the first touch of the collateral file.
“Our opportunity is to continue to add value to that platform for the benefit of our partners,” Hillman said. “Our greatest challenge will be to constantly think ahead, solving the next problem before our partners even realize they are faced with the potential risk. It means that we will be constantly training, always pressing for innovation and forever analyzing both the market and our response to its changes. There is no sitting still in our business.”
Fast Facts
- Founded in 1991 in Burbank, CA
- Mission: To develop Life of Loan solutions and protect homeowners by offering services at the highest level of accuracy partnered with the mortgage banking industry.
- The largest lien release service provider in the nation
- Average 26% growth year over year for the past 10 years
- 99.8% compliance rate on county requirements
- 99.6% compliant across all Service Level Agreements
