Recently, Title Defects have become more of a concern in the real estate market. Some believe that this can cause unfair foreclosures and others argue that they are the cause of stagnation within the market. According to Nationwide Title Clearing Inc., the key to ensuring a smooth title transition with less buyback risk or inability to foreclose, lies in the property records. Nationwide Title Clearing has taken all of the necessary steps in order to insure that the process of securing properties remains quite simple. The company has launched a website that makes property reports accessible online.
Title defects normally happen when an entity or person tries to lay claim to a property that is already owned by someone other than themselves. There are also many other factors that could render the title invalid such as noncompliant wording in the document that clashes with the local real estate standards. Other factors include failure to include a signature, previous liens, and failure to follow proper procedures when filing documents. CEO John Hillman believes it is vital to address title defects before transferring a property.
The Nationwide Title Clearing has an edge because they obtain data from numerous sources and offer human verification combined with automation to service large lenders in the United States. Because of their procedures and methods, the Nationwide Title Company is able to meet even the most rigorous and audited compliance regulations. They are able to produce the kind of results that their clients demand and they are successful due to the fact that they have a full understanding of the needs of their clients. They create customized reports to match their individual clients and deliver only the best.
Nationwide Title Clearing has a rejection rate of less than one percent, thanks to their high standards and acceptance of nothing less than perfection. The new training they they have developed is allowing people to better understand their loans, leaving much less room,if any, for error. The training that they have developed has been designed to make the art of mortgage lending less of a mystery and much more straightforward to the average person. The result is a 99.9 percent compliance rate across its complete line of services and a much clearer lending market for clients.