Nationwide Title Clearing, Inc. Maintains Company Culture Despite Financial Reform with Ongoing Employee Training
Palm Harbor, FL (PRWEB) July 15, 2013 -- The finance sector has experienced an upheaval in the past few years — changing regulations to the industry have thrown many banks and other financial institutions for a loop and left them scrambling for footing. But one Palm Harbor company has kept its feet on the ground through it all and maintained its business practices with regular employee training. Nationwide Title Clearing, Inc. (NTC), a leading service provider to the mortgage industry, steadily implements thorough industry education for its employees, from entry-level to top tier, to remain abreast of the current financial regulations.
Financial regulatory reform was enacted to prevent another crisis like that in recent years, but the resulting convoluted landscape has left many financial institutions anticipating an eventual negative business impact. The Dodd-Frank Act, enacted in 2012, consists of a system of measures that work to protect consumers, hold big banks accountable, and reduce the risk of future financial crises. Rather than abhor the changes to the industry, NTC responded to the stricter regulations, in part, by overhauling its employee education programs to reflect the new compliance standards.
Through its employee training procedures, NTC has experienced steady growth despite the turbulent aftermath of the Dodd-Frank Act—the company currently has over 325 local employees, and often implements cross-training, or training employees to be proficient in several company jobs and processes. Such growth has made sustaining company culture a necessity; by way of its regular education, widespread communication and executive approachability, NTC has managed to continue its expansion while remaining true to its principles. NTC’s education process integrates employees into the mortgage industry, from beginning to end:
●Basic Training: Each entry-level employee begins at this level upon employment. This fundamental education gives new employees an overview of the mortgage industry and its associated terminology. The level of detail includes such things as gaining an understanding of every word, section and code on the documents NTC prepares.
●Authorized Document Execution: NTC creates a culture of meticulousness with document accuracy, which includes proper review and execution by authorized signatories, called Document Review Specialists. These specialists are typically pre-trained in several areas of the company – upon assuming the role of Document Review Specialist, employees are apprenticed to thoroughly review documents and their supporting documentation before signing them. They are also trained extensively on proper legal signing and notary practices, corporate resolution authority, POAs and MERS. This results in an additional internal quality control step that catches possible errors within proposed documents prior to execution.
●Assignments and Process Flows: Proper document processing is vital today—inaccuracies can negatively impact a lender’s ability to protect loan assets. NTC employees are directed to help build transparent processes for borrowers, NTC’s clients and the industry as a whole.
●e-Recording: Electronic recording is gaining momentum and popularity because of its timely and secure processing of land and property documents. With substantial growth in the number of counties utilizing e-Recording, NTC employees are regularly guided to prepare documents for electronic submission to county recorders’ offices according to the latest requirements, and trained to understand the entire e-Record process.
●Security Awareness: To keep personal information private, employees are frequently educated in the process of recognizing and avoiding security threats.
Before granting employees full access to company systems, they undergo comprehensive testing to ensure that their understanding of NTC’s processes is comprehensive. NTC CEO John Hillman believes that consistent training practices are the key to navigating the ever-evolving regulatory and compliance landscape, as well as conserving company proficiency and preserving NTC’s corporate culture.
“Each NTC team member is extensively trained for the area in which he or she will be working — the length of time varies and we only put employees to work once they are fully capable of their assigned task,” said Hillman. “Our training process is an essential and vital function and NTC’s standards and capacity would flounder without it.”
When pressed about the possibility of stricter finance reforms in the future, Hillman replied, “NTC evolves alongside the industry itself—we strive to uphold our high standards, and in some cases, we help drive that reform with quality practices and standards that others then see as advantageous and worthwhile.”
In preparation for the industry evolution, Hillman also instituted the PerfectChain(SM) Assignment Verification Process several years ago. The system was backed by levels of training for employees at NTC’s on campus training center. NTC’s ongoing efforts to help its clients meet industry requirements have led to its being named as an innovator for its revolutionary verification system (1).
NTC specializes in building customized service solutions, such as lien release services, document retrieval and assignment services. Its clients include eight of the ten largest residential mortgage servicers in the country.
NTC maintains that its training methods have created a system instrumental in shaping company culture—NTC employees share a common goal of providing the best service to its clients. That uniformity, combined with NTC’s stringent processes, encourages a positive initiative that flows throughout the company as a whole.
For more information about NTC and its mortgage 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 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.
Alyssa Kaplan, JoTo PR, 888-202-4614, [email protected]
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