Title defects have turned to be the major cause for the concerns within the field of real estate in the recent years. Some people feel that it causes wrong foreclosures while others feel that they contribute to the stagnation of what would be a smooth assets transition in the secondary market. The property records ensure a clear title to reduce and convey the inability to foreclose or buyback.
One of the leading document processing and research providers, NTC, has taken great strides to make the process of securing the property reports simple. The Company recently came up with an updated website which will make the property reports available on the online platforms.
Title defects most commonly occur when an entity or a person lays a claim to a property that is owned by someone else. There are other factors that can render the title invalid. They include;
- Failure to append a signature of a person that is vital to the transaction.
- Failure to follow the filing or recording procedures when recording the real estate documents.
- Simple issues with the wording of the document that do not comply with the real estate standards.
- The title may have encumbrances or liens that may not have been removed.
NTC obtains some data from different sources during this process. It includes the automation combined with the human verification. This has given it the ability to successfully service the largest lenders in the United States under the most important audited compliance regulations. The officials say that the process gives accurate results. It attributes this success to having the full understanding of the results that the clients need. The property report is then customized with the correct data sets taken into account.
About Nationwide Title Clearing
The Company announced that a new office will be opened in Dallas and will include a new data center. The company offers document services including document retrieval, document processing, research services and abstractor services that include lien verification, assignment verification and tax status report. The Company was formed in 1991 and has its base in Palm Harbor in Florida.
Current estimates show that the Company has yearly revenue of one hundred to five hundred million dollars and has more than two hundred employees.
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