Mortgage fraud has been increasing in the USA in recent years. Unscrupulous mortgage brokers, moneylenders, real estate agents, and bank account representatives among others mainly commit it. Therefore, many individuals and companies are at risk of losing their investment to unsuspecting criminals. This risk compelled National Title Clearing (NTC) formation as a way to address this problem.
NTC is a private company that provides research and document-processing services to businesses and individuals in the mortgage industry. It was started in 1991, and its main offices are located in Palm Harbor, FL. The company serves the largest financial organizations, individual investors, and servicers in America. The services provided include property detail, lien release, allocation services, document follow-up, document retrieval and imaging. Most of her clients are mortgage lenders, servicers, and entrepreneurs.
The Impact of NTC on Mortgage Industry
NTC solves the problem of title defect through property reports. Title defect has been a primary cause of wrongful foreclosures and has hampered the smooth transition of assets. NTC has streamlined accessibility of property reports.
NTC gets its data from various sources, especially from the counties. The process is automatic but is combined with human verification. This diligence has enabled the company to meet its clients’ needs, especially lenders, given the increased level of auditing.
The new NTC Dallas office will have a new data center and host the company’s Chief Information Security Officer. Additionally, the office will double up as a full disaster recovery site for all information and infrastructure.
The Dallas office is relevant given that it will guarantee service delivery even in the event of a catastrophe. Consequently, the office will ensure smooth operations at all time. The Dallas office will also be crucial in addressing work overflows by absorbing workers in the different departments.
While operating from the Palm Harbor area, the company has had a positive effect on the community. Consequently, the company has various rewards, recognition, and recommendations. These credentials are a result of their community blueprint. The company’s commitment to community development is unwavering.
NTC and Training
Being a leader in the post-closing service, NTC has decided to provide training on the principles of residential mortgage finance. The training is crucial since it offers information relevant to lenders, entrepreneurs, and mortgage servicers. The program will take two days, and one can attend it at NTC Training Center or request it at his or her workplace.