PRIA sets standards, and that is, to a large measure, what NTC is all about; adopting practices that establish uniformity will help to protect our nation’s land records, the mortgage industry, and homeowners alike.
Palm Harbor, FL (PRWEB) March 31, 2014
Officials from Nationwide Title Clearing, Inc. (NTC) recently attended the Property Records Industry Association (PRIA) Winter Symposium held in Arlington, VA on February 26-28. NTC, a leading research and document-processing provider for the mortgage and financial industry, was represented by Myron Finley and Brian Ernissee, who were among top mortgage industry leaders and county recording officials who attended the conference.
PRIA, an organization which develops and promotes national standards and practices within the land records industry, holds annual conferences with a goal of providing a venue for industry officials to discuss how to meet local needs with national knowledge. Finley, NTC’s Chief Legal Officer, represented the company along with Vice President for Regulatory Compliance, Ernissee, who spoke on a panel at last year’s conference entitled “eRecord from a Submitter’s Perspective.” At the time, eRecording—the process of filing and recording documents via the Internet as opposed to paper—was a relatively new process, and Ernissee backed initiatives to improve upon the practice and make it widespread, drawing upon NTC’s 20 years of experience with property documents.
Several well-regarded speakers were featured at the conference, including Kenneth Gronbach, an expert in demographics and generational marketing, as well as Rob Chapman, President of American Land Title Association (ALTA). Gronbach presented two sessions wherein he looked at the future for the real estate industry, from both a macro and micro perspective, with a special focus on facilitating an understanding of America’s shifting demography and the related opportunities and challenges. Chapman was the featured speaker at the Thursday, February 27, luncheon and spoke about the development of ALTA’s Best Practices and their impact on the title industry. According to Finley, both speakers’ presentations further solidified the importance of adapting industry standards to fit the new compliance landscape; eRecording, in particular, is a major component of best practices, per Finley.
“A significant amount of the liability in the industry exists in the gap between the closing of the loan and recording of the documents; that’s why eRecording is so important in our industry,” Finley said. “In our increasingly digital society, an entirely paperless process is the next logical step in ensuring accuracy, as well as compliance.”
eRecording differs from traditional recording methods because the original documents never leave one’s possession—they are scanned and submitted within minutes, and are then returned electronically immediately after recording, making processing land records and property documents simple, fast and secure. This process allows documents to be submitted 24/7, and is cost-effective, reducing paperwork.
Finley, who also serves as co-chair of PRIA’s Business Processes and Procedures Committee, stated that the conference provided a “fresh viewpoint on what is happening within the mortgage industry and the U.S. economy in its entirety”; as a result, Finley and Ernissee were able to inform fellow NTC officials about new aspects of the industry, per NTC CEO, John Hillman.
“Conferences such as the PRIA Symposium are the perfect forums in which proactive and professional leaders can educate themselves on issues that are impacting our industry,” Hillman stated. “PRIA sets standards, and that is, to a large measure, what NTC is all about; adopting practices that establish uniformity will help to protect our nation’s land records, the mortgage industry, and homeowners alike.”
NTC, perhaps best known for its expertise in extensive research and document-processing services such as lien release processing, is an advocate for best practices and legislation that standardize the mortgage industry for the betterment of homeowners, land records and the industry at large.
For more information about Nationwide Title Clearing, Inc., including its research and document processing services, visit http://www.nwtc.com.
About Nationwide Title Clearing, Inc.:
Based in Palm Harbor, Florida and founded in 1991, NTC is a privately-owned leading research and document-processing service provider to the residential mortgage industry. NTC services mortgage lenders, servicers and investors, including eight of the top 10 residential mortgage servicers in the country. NTC is known for delivering the highest level of accuracy in research services and quality document processing that set the industry standard while protecting homeowners, assisting the mortgage banking industry and preserving the nation’s land records. The company’s land records and document experts are able to track and fulfill county document requirements in all recording jurisdictions nationwide, which is close to 3,600 different jurisdictions. NTC specializes in providing land records research, property reports, lien release services, assignment services, final document tracking, document retrieval and other custom business solutions. NTC’s expansion is tied to their contribution to their industry and their local community, ranking number 26 on the 2013 Fast 50 Awards list of fastest growing companies in Tampa Bay, as well as number 1,900 on the 2013 Inc. 500/5000 list of fastest-growing companies in America, up from number 2,730 in 2012. NTC also won the Inc. Hire Power award for the second consecutive year in 2013 for putting Americans back to work. For more information, visit the company’s website at http://www.nwtc.com.