Every NTC employee undergoes continuous training, and that is what allows our team to become experts in what they do.
Palm Harbor, FL (PRWEB) June 24, 2013
With the seemingly never-ending stream of new regulations being implemented in the mortgage finance sector, it is more important than ever for mortgage lenders and servicers to remain aware of the changes. Nationwide Title Clearing, Inc. (NTC), a leading service provider in the mortgage industry, is devoted to thorough training procedures that help its clients achieve compliance and consumers achieve the dream of home ownership.
In response to the 2008 financial crisis, the Dodd-Frank Act was enacted in 2012. The law consisted of a variety of measures that work together as a system to protect consumers, hold big banks accountable, and reduce the risk of future crises. NTC, a vendor to mortgage lenders, servicers and investors, responded to the stricter regulations by implementing new compliance educational programs in their comprehensive employee training.
While NTC has long employed a tradition of extensive employee training, today’s ever-changing compliance and regulation standards demand continual employee education. As a result, the company has spent the last several years substantially increasing and revolutionizing its training programs for their 350+ employees, to ensure the highest level of accuracy for its clients.
Through its educational undertakings, NTC has managed to adopt and develop a variety of new training courses designed to meet the regulations and compliance standards in the industry. Training topics include:
●Document review and signing documents;
●Notary regulations; and
●Basic mortgage industry terminology.
“The results are evident—our employee training has proven to be vital at NTC and in our industry overall,” said NTC CEO, John Hillman. In anticipation of the industry evolvement, Hillman developed the PerfectChain(SM) Assignment Verification Process several years ago. The system was backed by levels of training for employees at NTC’s on-site training campus. NTC’s ongoing efforts to help their clients meet industry requirements have led to its being named as an innovator for its revolutionary verification system (1).
NTC officials routinely monitor the rate of compliance they maintain for their clients, and report a 99.8% compliance rate on a consistent basis for lien releases sent to recording jurisdictions within state statute deadlines—a service that is in high demand by banking institutions today, to avoid hefty fines.
As another part of its quest to keep its executives up-to-date with the upcoming new regulations, NTC officials regularly attend conferences and workshops throughout the year to gather data on the new criteria and, in turn, relay that information to employee trainers for a systematic implementation of the new rules in the form of new courses and classes for employees.
New stringent compliance standards makes proper document processing controls a necessity—problems with document tracking or flow can have a profoundly negative impact on a lender’s ability to protect loan assets, which can inevitably hurt the homeowner. Because NTC mainly deals with the preparation and processing of recordable documents such as lien releases and mortgage assignments, accuracy is of the utmost importance. The company’s detailed training programs and core competencies help build transparent processes for its clients and the industry.
“Every NTC employee undergoes continuous training, and that is what allows our team to become experts in what they do,” Hillman said. “We are proud of the work we do here, and our detailed [training] programs help us to consistently achieve our objectives for our clients and the mortgage industry.”
NTC specializes in building customized service solutions, such as lien release services, document retrieval and assignment services. Their clients include eight of the 10 largest residential mortgage servicers in the country.
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 earned the position of #2,730 on the 2012 Inc. 5000 list of fastest-growing private companies in America, ranking #36 in Tampa and #46 in the real estate industry. 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, 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.