Nationwide Title Clearing (NTC)
has announced the launch of an innovative new document custody solution, “Curative Vault.” NTC's Curative Vault Solution is a complete custody process that includes a collateral review to real-life industry standards, remediation exception reports, perfecting of the collateral file and more.
"Financial Services firms are paying too much and only getting a partial document custody process," said Michael O'Connell, Chief Operations Officer at NTC. "This exposes them to risk because in too many cases the collateral files are incomplete or inaccurate, making it impossible to make good decisions should the loan go into default, become part of a securitized pool or go up for sale. Document Custody has traditionally been the last line of defense for a quality portfolio, but without the research and remediation components it simply can't get the job done."
As part of its new service, NTC chases down missing documents wherever they may be and assists with curing any assignment and endorsement exceptions. Then, the company prepares or facilitates any additional required documents to support loan sales and other life of loan events. NTC's research and document teams have more experience than any other company in the space.