Nationwide Title Clearing, Inc. was originally started in 1991 as a small regional title company that mostly served its local area. Today Nationwide is one of the largest document processors in the nation with eight out of the top ten retail mortgage companies and lenders rely on for their document needs.
The mission statement for Nationwide states that the ultimate goal of the company is to deliver the highest levels of accuracy in document procurement and delivery by using research techniques that ultimately protect homeowners while assisting the mortgage industry and also protecting the land records of the country.
The mortgage industry at the wholesale level is a very competitive affair, and the bottom line is how fast delivery can take place and how accurate are the documents? Nationwide has a compliance rate of 99.98% and a rejection rate of only .78%. This simply means that nearly 100% of the documents arrive on time and in a very accurate manner.
A great deal of credit is due to the abilities and training of the company employees. They are highly trained and are very capable of handling any contingency that comes about. The company can reach every county in the nation along with any other jurisdiction that houses records. That is over 3,600 locations.
All clients have to do is give Nationwide a call, or access digital portals that are assigned to them to retrieve records. Everything is well in hand where the client mortgage and lending companies can get access to the records that they need by using protected portals which allow them to link up via passwords and codes.
In a closing meeting where the final papers are going to be signed by the buyer and seller, the proper documentation is vital. There need to be lien releases, title verification, and a host of other necessary paperwork that allows the legal transfer of the property once valid consideration is given.
If the paperwork arrives in any form that is not valid, accurate or late, the closing cannot take place. It would seem impossible to have mistakes if things are being sent electronically, but mistakes do happen.
John Hillman, CEO of Nationwide stressed a point recently that the lengths that Nationwide take to double and triple verify documents as to their accuracy and timeliness of delivery rivals the military as far as redundancy. Without clear-cut procedures and proper training of employees, the company would not be where it is today.