Nationwide Title Clearing, Inc. is a true entrepreneurial marvel. It was founded in 1991 as a small, local title company and today it is one of the fastest growing wholesale title and document companies in the country. Nationwide services retail mortgage companies, lenders, banks, and other mortgage servicing companies all over the United States.
When your mortgage company or title company brings you in for the closing on your new home, chances are the documents needed for the closing came from Nationwide Title Clearing, Inc. The clearance for the title, the lien release, and the other items that are necessary for the transfer of the title from the buyer to you are needed to be accurate and on time for the date of your closing. If they are the wrong documents or they are lost in the shuffle, you will be upset, and you may even decide to work with someone else regarding your new home.
It is easy to see that timing and accuracy are vital to the smooth operation of a system that used to be run by fax and letterhead and is now run electronically. Nationwide runs a huge national abstractor network and its claim to fame is the ability to produce documents when they are ordered and to produce them accurately and quickly.
Nationwide has an excellent track record in this area with a 99.9% compliance record and less than a 1% failure percentage. These numbers mean that Nationwide will have all of the documents at your closing slightly less than 100% of the time.
Nationwide can reach out to each and every jurisdiction and county in the United States where documents are stored and have them at the closing location, or different locations if there are multiple closings.
Highly trained employees are vital to this type of operation as is a highly developed and sophisticated technology that runs flawlessly at all time. Over the past 25 years, a lot of time and energy, not to mention expense has been invested in these very things. Investment in personnel and technology has yield results that are the envy of the rest of the industry, and it has created a windfall for Nationwide.
Most of the top retail mortgage and banking companies do business with Nationwide. The technology and expertise of staff members can produce documents at half the cost of competitors, and it doesn’t look like anybody is going to catch up very soon.