The document discusses Nationwide Title Clearing's (NTC) lien verification service and how it has adapted to changes in the housing market. It provides answers from an executive at NTC to questions about the service. The lien verification reports help lenders and servicers by providing accurate lien information to streamline processes like foreclosures at a lower cost than title searches. The reports have also been adapted to new needs like quality control on new loans and due diligence on loan portfolios for sale. NTC's growth is attributed to creating solutions tailored to client needs and having deep industry expertise from experienced leadership.
2. Q. How does NTC’s lien verification service
help lenders and servicers?
A.NTC’s Lien Validation Report is a low-cost
alternative to insurable title searches con-
centrating on only the information needed to
complete a variety of end to end processes.
We have successfully integrated the data
and/or reports compiled through thorough
research of public records into due diligence
programs for both buyers and sellers, delin-
quent lien disposition, foreclosure processes,
charge-off and blight prevention initiatives.
In addition, with minor customization,
our focus expands into providing tax status,
lien position monitoring, mortgage position
validation and transaction history for all the
same reasons plus some.The fact of the matter
is that these reports evolved over time with our
existing client base to assist with the imposed
regulatory requirements and investor guide-
lines alike. We reacted to our client’s needs and
created the solution needed to streamline new
processes, enhance existing requirements and
manage costs at the same time.
Q. What makes NTC’s lien verification service
unique in the marketplace?
A.All research is completed by research
specialists using the most accurate available
resources. Our level of accuracy require-
ments cannot rely on data bases so they
simply are not part of the delivery. Integrating
our results into the decision making tools
and/or processes is our specialty — again —
focusing on timely and accurate results and
not the cost of unneeded information and/or
document copies; when appropriate.
Q. As the number of distressed properties
drops nationwide, how has NTC adapted to
the types of lien verification needed now?
A.The versatility of the Lien Verification Report
is endless. We have new clients calling for new
reasons all the time. That’s the good thing about
answering your client’s needs; the demand is
there across lines of business regardless of the
independent industry ebbs and flows. For exam-
ple and more to your point, NTC’s report can
pinpoint the information needed to complete
quality control on new loans, due diligence on
portfolios for sale and/or provide key decision
points on lien disposition. With this balance, we
are not relying on one industry statistic rather
counting on diversification from the investors,
capital market groups, servicers and collateral
file experts we call our clients.
Q. NTC is one of the fastest growing private
companies in the housing economy. What is
behind your growth?
A. NTC has created an executive team which
has nearly 300 years of combined experi-
ence and deep expertise in this industry.
Collectively, this knowledge gives us the
edge to stay ahead of the game in this
ever-changing world. Having an ear to our
client’s needs not only allows us to expand
upon and make more efficient our existing
product lines and out of the box solutions but
it helps us provide the resources for special
one-time projects that otherwise would be
deemed unjustified from a cost and time per-
spective. I have said for years that our clients
are the backbone to our success. In the spirit
of partnership, we rely greatly on their con-
fidence in us to explore new opportunities
outside of our core competency.
Q. What’s next for NTC?
A. We are a privately owned company that
has organically grown into a fairly large
company because the core values of the orig-
inal founders have remained intact. While
most large corporations are blindly driven
by profit, we believe that profit is the reward
rather than the goal. Our executives are fix-
ated with establishing processes that are as
close to perfect as possible. Our objective is
to provide the highest standards in research
and document production. We accomplish
this through a lot of employee training,
through effective QA processes and a lot of
trial and error. But when we get it right, we
record it in policy and procedure and lock it
down. We believe continuing this practice by
remaining steadfast and loyal to our found-
ers’ original values will keep us growing well
into the future. Long term, we will continue
to focus on drastic expansion of software
solutions, and perfecting our research and
document services, evolving our services
with a more sophisticated web experience
than what’s out there, one that delivers on
quality results not just automation because
our focus has always been and will always
be quality.
Q. How does the lien verification service tie
into the other services NTC provides?
A.In a word, seamlessly. The data compiled
is the most current and accurate data avail-
able based on county records. Therefore,
preparation of assignments and/or releases
benefit from not only the data captured but
the assignment chain validation that occurs
to determine the beneficiary of record at the
time the report was created. More important-
ly, part of the report creation is to identify is-
sues with the assignments found of record or
actual breaks in the chain. Since the report
can be requested with document copies, the
result is also a complete validation package
in supporting best practices of all docu-
ment preparation and execution processes.
Regardless of how you use the report, the
value exceeds the cost even if used inde-
pendently and then more so when integrated
into current processes required throughout
the life of the loan.
ExecutiveConversation:DebbieLastoriaonlienverification
Nationwide Title Clearing adapts to a changing market
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