Nationwide Title Clearing Blog
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.
Dealing with today’s climate of compliance and regulations can be a real challenge. Avoiding the pitfalls of past bad habits while maintaining a maximum of efficiency is a problem faced by companies, large and small, all across the mortgage servicing industry. There is no room to cut corners lest you expose your company to risk.
Tags: Uninsured Property Reports, Title Search, Property Title Search, Current Owner Search, Ownership and Encumbrance, O & E Report, Compliance, Mortgage Industry, Nationwide Title Clearing, White Papers, Property Report Service