Clients can now order property reports directly from Nationwide Title Clearing’s (NTC) website. This follows the recent launch of company’s updated website. NTC’s new online ordering system is aimed at helping to eliminate title defects, as sellers and buyers can now readily access various property reports.
Property titles are critical during any transactions. To this end, when an error occurs, the transaction is slowed down or even aborted. In some scenarios, title defects have led to mortgage companies foreclosing the wrong properties. This situation has inconvenienced everyone involved. The recent increase in the cases of title defects has been a worrying factor for the real estate industry. According to the company, property records are the key to clear titles and elimination of buybacks and wrongful foreclosures.
Many factors can cause title defects. One of the most common causes of the problem is several people claiming the same report. These defects occur when individuals claim properties that do not belong to them. In addition, the wording of titles has also led to many defects. It is a requirement that every title must be worded as per the rules and regulations of the area where a given property is located. In case the wording is wrong, the title becomes irrelevant. The absence of the required signatures can also lead to faults on the title. Crucial signatories in a transaction include that of the spouses. Moreover, failure to follow filling procedures has also been associated with many title defects. This information was originally published on National Mortgage News as highlighted in the link below http://www.nationalmortgagenews.com/press_releases/nationwide-title-clearing-revamps-website-online-ordering-available-1041942-1.html
Speaking during the announcement, John Hillman advised buyers and sellers to address title defects as early as possible. Failure to do so will lead to cancellation of the transaction and frustration of both parties. John is the chief executive officer of NTC. He was one of the main figures behind the launch of NTC’s online ordering system.
According to Hillman, the new platform is in-line with the company’s goal of offering fast, simple, and systematic process of securing property reports. This ease will help revolutionize the mortgage industry. Some of the reports that clients can order online are Tax Status(Plus) Report, Tax Status Report, Current Owner Report, and Assignment Verification Report.
About Nationwide Title Clearing
NTC Inc was founded in Florida in 1991. The Palm Harbor-based company is a market leader in research and document processing in the United States. Its high quality services have seen the company become one of the important players in the mortgage market. Notably, with eight out of the 10 top residential mortgage companies rely on its services. Over the years, the company has also won several awards, including Fast 50 Companies in Tampa Bay, Inc. 500, and Hire Power Award.