The [PRIA] conference presented a prime opportunity for those proactive and professional industry leaders to educate themselves, as well as their peers, on the issues that mortgage industry experts nationwide are currently facing.
Palm Harbor, FL (PRWEB) October 14, 2013
Nationwide Title Clearing, Inc.(NTC), a leading research and post-closing services provider for the residential mortgage industry, has long been an advocate for remaining abreast of the ever-changing regulations in the mortgage industry. As a result, NTC’s Chief Legal Officer, Myron Finley, was appointed co-chairperson of the Property Records Industry Association (PRIA) Business Processes and Procedures Committee. As a new member, Finley collaborated on a PRIA 2013 Annual Conference panel discussion regarding document indexing standards.
PRIA is an organization that develops and promotes national standards and practices within the land records industry. After the resounding crash suffered by the financial sector in 2008, the industry has emerged from the fallout with stricter regulations and standards geared towards preventing similar situations—making across-the-boards compliance a necessity. As co-chairperson of the Business Processes & Procedures Committee, Finley shared responsibility of the discussion forum, which focused on “Indexing of Grantor/Grantee Names by Land Recording Offices”—Finley participated in facilitating a dialogue about the current state of indexing, or tagging documents with different search terms, to identify challenges and opportunities within the industry.
Designed to provide a venue for industry officials to examine how to meet insular needs with national knowledge, the conference focused on a white paper written in 2001 by Carl R. Ernst, one of the founders of PRIA, which discussed the then state-of-the-art of indexing in the property records industry. Finley, along with his co-chair Kathi Guay and fellow committee members Phil Dunshee and Charles Epperson, was tasked with the responsibility of updating the report to reflect industry developments in the ensuing decade.
The indexing forum, per Finley, allowed NTC and its peers to not only face, but also address the difficulties facing the mortgage industry today in document indexing, a key factor in successful document management. After reviewing the existing state of written indexing standards of recorders nationwide in order to obtain a snapshot of what the industry is actually doing now, NTC will later participate in a nationwide discussion regarding what new standards should be put in place. Many recording jurisdictions were present at the conference, as well as vendors, submitters and recording agents—when questioned about the opportunity of communicating with such a large number of industry leaders at once, Finley stated:
“The [PRIA] conference presented a prime opportunity for those proactive and professional industry leaders to educate themselves, as well as their peers, on the issues that mortgage industry experts nationwide are currently facing. But to address those issues, we first had to identify them—from there, we have a better vantage point from which to view a more cohesive process for the industry.”
Out of NTC’s large client base, eight are listed among the top 10 largest residential mortgage servicers in the country, with most of whom NTC has worked closely for years in helping to standardize industry document processes and procedures. These ongoing efforts have contributed to NTC being named as an innovator for its revolutionary PerfectChain(SM) Assignment Verification Process (1). This system was backed by NTC’s research services and several levels of training for employees at NTC’s on-campus university.
NTC’s core strength as a mortgage industry service provider lies in helping its mortgage lending and servicing clients stay within compliance with the statutes relating to many post-closing services (such as lien releases and assignments); such compliance regulations are designed to ultimately protect homeowners. Because of NTC’s deep research ability they have the capacity to process post-closing mortgage documents on a timely basis for the mortgage banking industry. This, coupled with their stringent quality-control practices, has enabled them to see an increase in business from the top mortgage banking institutions in the country. In 2013, NTC again earned a spot on the prestigious Inc. 5000 list for an unprecedented four-year growth, and was also a winner of the Inc. 5000 and Inc. Hire Power award for its achievements in lowering the unemployment rate in its region in 2012.
For more information about NTC and its services, visit http://www.nwtc.com.
About Nationwide Title Clearing, Inc.:
Based in Palm Harbor, Florida and founded in 1991, Nationwide Title Clearing, Inc. (NTC) is a privately-owned leading service provider to the residential mortgage industry, serving mortgage lenders, servicers and investors, including eight of the top 10 residential mortgage servicers in the country. NTC ranked number 26 on the 2013 Fast 50 Awards list of fastest growing companies in Tampa Bay and 1,900 on the 2013 Inc. 500/5000 list of fastest-growing companies in America, up from number 2,730 in 2012. 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. NTC specializes in providing land records research, uninsured property reports, lien release services, assignment services, final document tracking, document retrieval and other custom business solutions. For more information, visit the company’s website at http://www.nwtc.com.
1.“PerfectChainSM Assignment Verification Process.” Giantsof.com. N.p., n.d. Web. 05 Apr. 2013. giantsof.com/giant/nwtc.