For a long time, landowners have registered their concern due to the upsurge of cases of title defects. In response to this mess, the Nationwide Title Clearing authority (NTC) has created a self-service portal through which individuals can access or request property reports. By establishing this website, NTC officials are confident that complaints arising from title defects which were hitherto prevalent will reduce by a significant portion.
In most cases, title defects are as a result of a wrongful claim of ownership. Though this is the most common reason, other factors also come into play. Syntax errors and lack of required signatures may also contribute to the development of defects. Furthermore, failure to adhere to the outlined form-filling procedure as well as non-removal of previous owners may cause the problems.
The blemishes in the titles have had an adverse impact on the market. Prospective buyers often call off deals out of suspicion that they may be victims of fraud. Also, financial institutions have unjustly shut out properties as a result of these shortcomings.
By enhancing the availability of property reports, NTC executives hope to bring an end to this conundrum. The company passes the stories through stringent vetting processes before they are posted on the website. The ultimate objective is to achieve an environment where no qualms will be raised over the authenticity of any transaction involving a particular premise.
Speaking on the matter, John Hillman, CEO of NTC reiterated the necessity of verifying the validity of property reports before any transaction. He also revealed his confidence in the new system to mitigate the issues associated with title defects. Further, he stated that customers would be able to access tax reports, incumbent owner reports, and substantiation reports. To enhance the credibility of the reports, they are passed through the mandatory human verification process.
About Nationwide Title Clearing
For over 25 years, Nationwide Title Clearance has been the go-to firm in matters pertaining property ownership. The firm has upheld its reputation by maintaining high operational standards. Their clientele is primarily sourced from the mortgage sector, encompassing investors, servicers, and lenders.
Over the years the company has witnessed exponential growth. In the process, the institution has bagged several prestigious accolades, an acknowledgment of their exemplary work. Among the awards bequeathed to the enterprise are the Hire Power Award and a place on the list of fastest growing entities by Fast 50 awards. The establishments head offices are in Palm Habor, Florida, with a satellite office in Dallas, Texas.
For more information, visit http://info.nwtc.com/blog.