Nationwide Title Clearing Inc. (NTC), a research and document-processing provider for the mortgage and financial industry, is now making property reports available through an online system.
According to the company, this will help the industry deal with an increasing number of title defects, which ‘have become a major cause for concern within the real estate market,’ says CEO John Hillman. The key to reducing the risk of buyback or inability to foreclose lies in accurate property records, he explains.
According to Hillman, addressing title defects well before the property is sold or transferred is key. In an effort to assist the evolving mortgage industry, NTC has made the following property reports available via online ordering:
" Assignment verification report services;
" Current owner report (ownership and encumbrance report);
" Tax status report;
" Tax status (plus) report.
NTC says it obtains data from multiple sources during its process – and most importantly, the counties – and includes automation coupled with human verification. "Our property report services are based on research conducted from actual land records and are accessible for any residential property nationwide," Hillman adds.