Nationwide Title Clearing, Inc. is one of the nation’s leading wholesale document processing companies. They source and provide the needed documents for property transactions all over the United States for the closing meetings everywhere. Eight out of the top ten agencies that do mortgages on the retail level rely on Nationwide for their documents.
Launched in 1991, Nationwide Title Clearing and its 578 employees located in Palm Harbor, Florida meet the daily challenge of making documents available in a huge volume to be transmitted to specific locations all over the United States on a daily basis.
The benchmark in this industry is to be able to deliver documents with great speed and efficiency and with great accuracy. If you have ever been in a property closing before you realize that documents such that prove title clearance, lien releases, and tax status reports, just to name a few, are required at the time of closing. If they are missing or inaccurate, the entire process for that property closing can be delayed, causing all kinds of scheduling difficulties.
Nationwide has some of the highest statistics in the industry with a failure rate of less than 1% and a compliance rate of 99.8%. This simply means that they are fast and correct nearly 100% of the time.
It would be impossible to accomplish such magnificent results without highly-trained and dedicated employees who know what they are doing every step of the way. New employees undergo a three-week initial training period and then are working and handling transactions under the watchful eye of supervisors and trainers. They stay under a close shadowing situation until they master the phase they are in.
There are still an additional 150 training and educational modules that employees can utilize to gain more knowledge on a voluntary basis. These extra units are not required, but if an employee wishes to advance, they must be utilized. Time is set aside for employees to get involved with these modules, and at any given time 50% to 70% of the workforce is involved.
The importance of correct information is highlighted in an article that was recently published by Nationwide’s Chief Legal Officer, Myron Finley. In the article, Finley cites a situation where information was left out regarding a clear title which was used as collateral for a $600,000 loan. The title was classified as good and clear, where in fact it was not. The misleading information led to a lawsuit, which could have been avoided, had the proper information been available.
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