As whole loans trade more freely, the need for accurate assignment services increasesRead More
Nationwide Title Clearing Blog
Tags: Press Release, Assignments, mortgage assignments, Assignment Verification Report, Mortgage Documents,, Servicing, Mortgage Recording Services, Nationwide Title Clearing, Inc, Mortgage Services Guide, loan
With the industry changes around regulation and compliance, it has been reported that the cost of servicing has quadrupled over the last decade. Finding stable components within the cost structure has never been more important. NTC provides you that peace of mind.Read More
Tags: Mortgage Industry, Final Document Processing, Document Retrieval, mortgage assignments, Assignment Verification Report, Lien Releases, life of loan, Nationwide Title Clearing, Inc, Collateral File Audits and Remediation, Document Services
Assignment Verification Reports are crucial in determining if a loan is a beneficial commodity. Seasoned loans have a high probability of incorrectly prepared assignments located in the chain, which can result in a cloud on the title. It is essential that assignments are prepared by a company that understands the requirements in order to ensure assignment chains remain intact. The best practice would be to order an AVR on any loan with a less-than-certain history to verify that all assignments were prepared and recorded correctly.
Property report demands have expanded beyond the typical title search. Reports and uses have changed and it may be unnecessary to purchase a full report. Watch as Nationwide Title Clearing expert Debbie Lastoria discusses the different types of reports available and how they can help with due diligence. Click here to watch this National Mortgage News Ask the Experts video.In this video, Debbie discusses these key points:
How do AVR's bridge the gap between servicers/custodial status reports, with true live county data? Most property reports do not index chain of assignments, and don't list the flaws within an assignment body - flaws which can make subsequent assignments invalid in certain states. In this video, industry expert and COO at Nationwide Title Clearing, Michael O'Connell, discusses the importance of an assignment verification report (AVR) and how it can help verify the accuracy of information. Click here to watch this National Mortgage News Ask the Experts video.
California Assembly Bill 278 commonly referred to as the “Homeowner Bill of Rights” became effective on January 1, 2013. Mortgage servicers could incur penalties up to $7,500 per mortgage if they don’t have a process in place to review documentation or have the “competent and reliable evidence” to prove it. Myron Finley, Chief Legal Officer at Nationwide Title Clearing, recently wrote a white paper explaining the new law and how to prepare for it.