Lien releases are involved in several much larger regulated processes related to paid-in-full loans, charged-off loans, loan forgiveness and other default-related scenarios that require a mortgage to be discharged. Each of these processes involves specific documentation, compliance requirements and service levels throughout the payoff or charge-off.
Additionally, each state and county may have varying requirements for documents and data, complex recording fees, or extra processes required to get a document recorded. These requirements constantly change throughout the thousands of recording jurisdictions and require updating regularly.
NTC can serve as a critical business partner, building successful lien release processes that help clients reduce costs and potentially avoid expenses, such as penalties, judgments or fines.
NTC offers a paid-in-full suite of services, including lien release, borrower mailings, collateral file management and title curative, plus a self-service platform, PerfectDocs. The company is an expert at managing the ever-changing requirements of more than 4,000 recording jurisdictions, states, investors and MERS, as well as mitigating the risks of getting it wrong. Taking this off a client’s hands is valuable, as most clients do not have the resources or knowledge to do it effectively themselves.
The company’s proven track record and reputation as a premier partner speak for themselves.
During the pandemic, many of NTC’s clients shifted 100% of their volume to the company, more than doubling normal volumes. NTC completed the work on time and maintained a 99% compliance rate with MERS and associated data while reviewing each document for accuracy before execution.
Additionally, NTC’s PerfectDocs platform, designed with 30 years of knowledge and expertise, makes real-time county requirements readily available, which means that clients don’t have to purchase or maintain costly infrastructure but can still maintain certain processes in-house if desired. When included with NTC’s suite of lien release services, PerfectDocs becomes a solution factor for any business disaster recovery or continuity plan, including plans addressing resource considerations, work-from-home requirements or simply an influx of volume.
NTC has expanded its offerings to provide more flexibility and options in designing the perfect lien release solution, which ultimately results in lower costs and less risk for its clients. The company advises on best practices and process implementation, from solving chain of title issues and managing paid-in-full collateral to sending recorded documents and collateral to the borrower.
NTC is a cornerstone for lien release processing and management services in today’s challenging market. The company maintains scale and infrastructure and is investing in more service capabilities at a time when many clients are not able to maintain the industry knowledge or infrastructure on their own. NTC can eliminate redundancies and inefficiencies along the way, as the company can support clients whether they prefer a one-stop shop or a share-the-work approach.