See some of our frequently asked questions below to learn more about NTC. If you have further inquiries, please feel free to contact us via our contact page or call toll free at 800-346-9152 or locally at 727-771-4000.
Nationwide Title Clearing, Inc. (NTC) was founded in 1991 and has grown into a national leading post closing services provider for the residential mortgage industry. NTC provides a wide range of services to the nation’s top mortgage lenders, servicers and investors as well as various government entities.
While we are the largest service provider in our field, we are still privately owned and operated business. We are headquartered in Palm Harbor, FL but operate two other centers in Dallas, TX and Pittsburgh, PA with a total of over 600 team members, and growing.
NTC services include a variety of document preparation and research services that are tailored to the needs of mortgage lenders, servicers and investors – from loan originations to loan payoffs.
NTC specializes in processing lien releases, assignments, document imaging, mortgage document tracking, recorded document retrieval, title searches, property reports, title policy retrieval, collateral reviews and management, as well as other custom business solutions.
We are often confused with a title company because of the word in our name, but make no mistake, we are not a title company. NTC was originally called California Title Clearing. California Title Clearing’s name resulted from the company helping to provide “clear title” to homeowners. A “clear title” is one that is free from any issues that raise questions or create any uncertainties. A “clouded title” conversely is one which has issues which create uncertainties and hence, problems for the title. A property with clear title is easy to sell. A property with a clouded title can be problematic and difficult to sell.
California Title Clearing worked with local title companies that were by law able to issue a document called a “Release of Obligation” which removed a mortgage lien if in fact the mortgage lien had not been removed by action of the paid-off lender/servicer within 90 days of payoff. California Title Clearing would track the 90 day period from payoff and would create the Release of Obligation for execution by its clients, the local title companies.
When the owners saw how successful this was working out, they decided to go nationwide and solicit business from the mortgage servicers in helping them to operate within the compliance statutes of the various states. The Nationwide Title Clearing name grew out of the earlier name and the connotation of “clearing title” still works well today in the residential mortgage industry.
As are the greatest innovations, NTC was born of necessity. In the 1980s, documenting a loan-payoff was relatively easy. Lenders made a final journal entry; sent the payoff documentation to the appropriate title company; and, the paper trail ended there. There was no follow-up in place to confirm that the mortgage release documentation was filed with the governing jurisdiction. As the 80s wore on, title companies were required to possess four vital documents before preparing a lien release: a photocopy of the payoff check, the original note canceled by the lender, the original deed of trust, and a request for reconveyance.
With no internet, the volume of documentation in distinct locations was virtually impossible to trace. Lien releases became harder and harder to complete. By 1989, the logjam of unprepared lien releases had grown too large to ignore. As a result, new industry regulations emerged significantly decreasing the timeframe for delivery; and, shifting lien release responsibility from the title company to the mortgage company. With that, the lien release industry was born.
NTC emerged in 1991 from a commitment by the company founders to bring order to chaos. They knew they could help mortgage companies handle this backlog and comply with the ever-changing regulatory statutes.
In 2002 the company was experiencing substantial growth. We were bursting at the seams and there was no room for expansion. Operating a facility with the need for a large amount of space and employees was not well suited to a downtown Glendale California high-rise office space that the company occupied at that time. The board considered many factors primarily the cost to run a facility such as ours and the need for further expansion. They located an office building in Palm Harbor that represented an expansion from a 10,000 sq. foot space to a 38,000 sq. foot building. A decision was made in early 2002 to open an operations center in Palm Harbor and begin a yearlong program to relocate the company with the final move in December 2002.
The company has grown consistently every year in revenue and sales since inception. We feel this is because over the years, we have continually expanded our services to meet the ever changing needs of mortgage servicers and lenders. Our team-style approach is demonstrated in our adaptability to meet client-specific needs. The company regularly builds custom workflows and services to meet these client needs and has a single-minded focus when it comes to delivering for clients when they need it most. Client’s trust NTC’s core expertise in county recording jurisdiction document requirements and laws regarding document format guidelines and county requirements to help them stay in compliance and protected from risk. We are experts at what we do and value our relationships and delivering the highest standard for accuracy and accountability.
When it comes to extensive land record research in the residential mortgage industry – we are the experts. Nationwide Title Clearing has invested years honing our systems in order to offer the most sought-after research services in the industry. NTC’s ability to couple our team’s unparalleled experience with our technological gains have resulted in a speed and accuracy that dwarfs our competition. We have also built a nationwide abstractor network of experts and resources that are vigilant about quality and the ability to offer services at a significant savings. This is how we’re able to remain a leader in the percentage of accurate documents located and retrieved – if it is on record, we will find it.
The majority of documents that Nationwide Title Clearing prepares are lien release documents. NTC’s service includes the entire process for preparing and recording the required documentation to cancel a mortgage as the final step in the payoff process. The document that cancels the mortgage has different names, such as “lien release” or “reconveyance” (“recon” for short) or “mortgage satisfaction” or “satisfaction”, as well as other names depending on the location.
This process keeps land records current by removing paid in full mortgages from public record. This helps to facilitate home sales, refinancing and full payoff to put the property in the new homeowners’ name. We prepare these documents in a timely fashion so that there are no delays in recording them accurately with the county, in accordance with state and county statutes.
Many states require that the assignments all be clearly on record for a lien release to be prepared and recorded by the current servicer of the mortgage. Often NTC helps the servicer of the loan find and address any earlier missing assignments in order for the lien release to be filed.
NTC key strengths reside in our land records/document experience and technology. NTC maintains thousands of different document forms in its proprietary system for accurate document format in all recording jurisdictions nationwide. NTC’s ability to perform extensive property reports, collateral reviews and land records research from multiple sources augments its ability to prepare the most valid and accurate documents which ultimately protects homeowners throughout the nation.
Responding to the industry challenge of accurately predicting refinance activity in the current market, NTC became adept at dealing with rapid changes in workload. NTC has effectively enabled its customers to smoothly adapt to the changes in business volume through the downturn and is today a critical component in enabling servicers to deal with market volatility in the wake of historic levels of refinances and modifications. Servicers have turned to NTC more than ever to help in normal day to day processes on performing loans so that our clients can focus on modification and loss mitigation efforts. From our experience, our clients would rather keep borrowers in their homes if something acceptable can be worked out.
Without our services, many mortgage lenders and servicers would not be able to keep up with the legal task of filing proper documentation to assign loans or release loans that have been paid in full. Our work helps to ensure that paperwork is accurately, legally and timely recorded in recording offices nationwide, a vital and necessary function.
NTC is a pioneer in integrating e-recording services and has done so with hundreds of jurisdictions around the country to facilitate electronic recordation of mortgage industry public records. NTC is a trusted partner for lenders and servicers that want to integrate effectively with the many approved e-recording jurisdictions.
The e-recording movement is destined to improve the entire industry, both in terms of having more environmentally friendly practices as well as establishing a more streamlined and efficient means to record these vital documents. The more counties that accept e-recordings, the faster and clearer the chain of title will be on public records.
NTC provides a multitude of other services that do not involve document preparation, many of which are to help the industry know what is on land record, perfecting the chain of title, and enable clients to have access to electronic images of mortgages, title policies, etc.
Every year, NTC is audited by the Service Organization Control (SOC) 1, Type 2 examination from the American Institute of Certified Public Accountants. Conducted by a national security and compliance solutions provider, the audit affirms the description of NTC’s systems and the suitability of the design and operating effectiveness of controls.
As part of the audit, NTC is required to provide a thorough description of its proprietary technologies and processes as well as describe the suitability of the controls NTC has in place to ensure it achieves its objectives for data confidentiality, integrity and availability. Passing this very important audit yearly is vital to earn the trust of the regulatory bodies in the residential mortgage industry and our clients.
NTC is devoted to being an asset to communities across the Tampa Bay region and believes that it is important to be active in helping to expand the business and economy regionally. Due to our engaged staff, we have earned recognition as a Tampa Bay Times Top 100 Workplace for 2011, 2012, 2014, 2015 and 2016 through an anonymous third party employee-focused research company.
We are proud members of industry associations which help cause the future of the residential mortgage industry like Mortgage Banking Association (MBA), the Public Records Industry Association (PRIA) and even the Mortgage Industry Standards Maintenance Organization (MISMO). We are also big believers in helping to build strong communities where we are located so we are also members of the Dallas, Tampa and Clearwater Chamber of Commerce, the Texas MBA and our senior level executives regularly participate in the Pinellas Economic Development Council events and meetings.
The company enjoys taking an active role in helping to build a strong local community. We work with suppliers and customers to reduce environmental impacts by providing paperless documents whenever possible and we have implemented a paperless document recording in over 70% of all Recording Jurisdictions across the United States.
We also have strategic partnerships with customers and suppliers to increase the use of digital data sharing, we have implemented a companywide recycling program for plastic bottles and cans, we have installed bottled water filtration stations companywide to reduce plastic bottle disposal, we have initiated companywide shredding and recycling of all paper documents, we have also put recycled paper into use for the majority of our printing.