Our eRecording partnership with Nationwide Title Clearing completes the electronic recording process from document creation to recording, and back
Palm Harbor, FL (PRWEB) January 30, 2012
Nationwide Title Clearing (NTC), the industry’s leading post-closing services provider for residential mortgages, will be among the featured exhibitors at the National Mortgage Servicing Conference & Expo 2012. Hosted by the Mortgage Bankers Association® (MBA), the annual conference focuses on the latest developments in the evolving mortgage servicing marketplace and will be held February 21–24 at the Orlando World Center Marriott.
Attendees of the Mortgage Servicing Conference & Expo will be able to meet with NTC representatives and learn more about the company’s comprehensive product and service offerings. NTC provides a full spectrum of post-closing services for mortgage originators, servicers and investors, as well as agents and homeowners. The company is perhaps best known for its expertise in lien release processing and management, which accounts for the largest proportion of its document preparation services. A lien release is a required document that is to be filed by the lender upon payoff of a loan to cancel the mortgage as the final step in the payoff process.
This conference could not come at a better time to bring together these professionals. According to a recent news article by the Tampa Bay Times, mortgage applications jumped 23.1 percent nationally last week on low rates and a dramatic upswing in refinancing activity, the Mortgage Bankers Association and new applications for home purchases rose 10.4 percent from the previous week. In fact, the increases have led some real estate experts and economists to think Tampa Bay’s worst housing days are over (2).
John Hillman, CEO of Nationwide Title Clearing, reports that NTC’s lien release services are currently experiencing high demand. He attributes this to several factors; most notably to record-low interest rates (1) that are spurring interest in refinancing. “Interest rates for 30-year fixed mortgages are at an all-time low. And with the expansion of the Home Affordable Refinance Program, or HARP, lenders are able to offer refinancing to more homeowners,” explained Hillman. “Short sales and short payoffs are also contributing to the increased demand for lien release services.”
To accommodate the growing number of homeowners and buyers seeking refinancing or new loans, many lenders, servicers and investors have come to rely on NTC’s extensive experience in lien releases and assignment verification; with nearly 3,600 county recording offices nationwide. Each one has its own codes, filing systems and regulations on how land records must be prepared and recorded. NTC is able to meet the exacting requirements of every one of these offices, with the process down to a science.
NTC’s PerfectChain(SM) Assignment Verification Process will also be of particular interest to MBA’s Mortgage Servicing Conference attendees. NTC has worked closely for years with many of the country’s leading mortgage lenders and servicers to standardize the mortgage assignment document process. Together, they created best practices that set a higher standard for the industry, which also fully comply with Fannie Mae’s most recent published requirements (3). NTC’s new process was recently depicted in a recent publication by Housing Wire called “Giants of Innovation”.
One of the ways NTC has streamlined the recording process of public record documents for its clients is through its partnership with national electronic recording providers. By enabling NTC’s specialists to submit, receive and record documents via a secured electronic connection to the county, NTC’s partners in eRecording services make the recording process much faster and easier, and substantially reduce the costs associated with traditional submission methods.
“We are seeing a marked increase in lien releases and other servicing-related documents that are electronically recorded nationwide,” said Paul Clifford, President of Simplifile, one of the leading eRecording providers in the nation. “ERecording simplifies and accelerates all aspects of the recording process, which cuts the time to record documents to minutes instead of days or weeks. Our eRecording partnership with Nationwide Title Clearing completes the electronic recording process from document creation to recording, and back. Not only is this very important for cost savings, but it allows NTC to quickly and efficiently release the lien to clear title against a borrower’s property.” For more information on Simplifile, visit http://www.simplifile.com or call Vicki DiPasquale at (801) 223-1070.
MBA’s Mortgage Servicing Conference attendees can learn more about NTC’s lien release services and PerfectChain(SM) Assignment Verification Process during the Expo. To learn more about Nationwide Title Clearing visit booth #1006. For more information on NTC and its complete range of mortgage post-closing services, visit http://www.nwtc.com or call 727-771-4000.
About Nationwide Title Clearing, Inc.
Headquartered in Palm Harbor, Fla., Nationwide Title Clearing(NTC) was founded in 1991 and has since grown to become the nation’s leading post-closing services provider for the residential mortgage industry. In addition to supporting lenders, servicers and investors – including eight of the top 10 residential mortgage servicers in the country – NTC also contracts directly with several federal government agencies. The company’s land records and document experts are able to track and fulfill county document requirements for close to 3,600 recording jurisdictions nationwide, and have considerable experience with state notary laws and valid execution practices. NTC specializes in processing lien releases, assignments, Mortgage Electronic Registration System (MERS®) services, final documents, document retrieval, title searches, title policy retrieval, title policy replacement, capital markets/hedge fund bundled services, imaging and other custom business solutions. For more information about Nationwide Title Clearing, visit the company’s website at http://www.nwtc.com.
(1) Hoak, Amy. “30-year fixed-rate mortgage hits record low.” The Wall Street Journal. January 19, 2012. http://www.marketwatch.com/story/30-year-fixed-rate-mortgage-hits-record-low-2012-01-19
(2) Mark Puente. “Rise in mortgage applications fueled by low rates, refis, lower home prices” Tampa Bay Times. January 19, 2012. http://www.tampabay.com/news/business/realestate/rise-in-mortgage-applications-fueled-by-low-rates-refis-lower-home-prices/1211174
(3) FannieMae Servicing Guide Announcement SVC-2011-22. http://www.efanniemae.com/sf/guides/ssg/annltrs/pdf/2011/svc1122.pdf