Nationwide Title Clearing Inc. (NTC) has released a new White Paper that provides a methodology for scoring a bank’s trailing document process. In recent years, trailing documents have presented serious problems for some banks, exposing them to risk and costing servicers time and money. “In today’s highly regulated environment, problems with document tracking or flow can have a profound negative impact on the firm’s ability to protect loan assets,” said Joellen Raiti, Nationwide Title Clearing vice president of marketing and author of the White Paper. “Evaluating your own trailing documents process regularly is a best practice that will help your company avoid negative attention from regulators and help you maximize the return from limited resources. There are many potential savings and efficiencies to be realized if you take the time to look for them.”
NTC has built its reputation as a company obsessed with document perfection. The company’s business process is based on a regimen of stringent review, research and reporting performed prior to the processing and recording of accurate post-closing mortgage documents. NTC has offered its help to lawmakers in establishing industry-wide best practices which provide assurance to consumers, while also being practical to achieve within the industry.
“As a company, we are nothing short of obsessed with every detail that goes into perfect land record documentation,” said NTC CEO John Hillman. “We want to take every opportunity to share best practices to aid consumers, protect land records and benefit our industry.”
