There's a reason the largest financial institutions in the country trust NTC with their lien release processing services. We are competent, dependable, experienced and our results speak for themselves. We've processed over 25,000,000 documents since 1991 and more than half of that number are lien releases. We are now at over 70% eRecording with a reject rate of less than 1%.
Ensuring that lien releases are accurately processed in a timely manner is crucial in monitoring your overall risk. States require lien releases to be submitted to the county recorder usually within a matter of days after the loan is paid in full. While the timeframe differs nationwide, you can potentially face statutory penalties for non-compliance if your documents are not filed in the state's stipulated time frame. Click here to watch industry expert Debbie Lastoria explain how to monitor your overall risk on lien releases.
In order to process the files within compliance, you’ll need to have the necessary in-house, or service provider staff. Having a service provider ready for in-house overflow is like having an insurance policy for compliance. If you use a service provider, verify through your in-house counsel that the number of days matches the state’s requirements.
Also, by tracking the number of county rejections each month, you can ensure that your system is up-to-date with all of the county requirements changes. Not using a third-party provider can make it difficult to stay on top of the 3600 recording jurisdictions nationwide.
You’ll see an overall boost in customer satisfaction, and decrease in cost-per-loan by ensuring your files are processed on-time. If releases are not processed promptly, you could experience call increases and legal demands as a result.
Reasons it is so important to monitor your lien release process:
- Releases must be accurately processed within a state's stipulated time frame.
- Most counties require the lien release to be recorded in a certain number of days.
- There are statutory penalties for non-compliance.
- If not processed on time, call increases and legal demands could result.
- If processed on-time, you should see an overall boost in customer satisfaction, and decrease in cost-per-loan.
Call NTC today, trust the experts. 1-800-346-9152 X310. www.nwtc.com.