Lien release is included in a number of larger regulated processes related to paid-in-full loans, charge-off loans, loan forgiveness and other default-related scenarios that require the foreclosure. Each of these processes involves specific documentation, compliance requirements and service levels during payment or charge-off.
Thank you for reading this post, don't forget to subscribe!Additionally, each state and county may have different requirements for documents and data, complex recording fees, or additional procedures required to record the document. These requirements are constantly changing across thousands of recording jurisdictions and need to be updated regularly.
NTC can serve as a valuable business partner, creating successful lien release processes that help clients reduce costs and potentially avoid expenses such as penalties, judgments or fines.
NTC offers a pay-as-you-go full suite of services including lien release, borrower mailing, collateral file management and title remediation, as well as a self-service platform, PerfectDocs. The company specializes in managing the ever-changing requirements of over 4,000 recording jurisdictions, states, investors and MERS, as well as minimizing the risks of getting it wrong. Taking this out of the hands of a customer is valuable, as most customers do not have the resources or knowledge to effectively do it themselves.
The company’s proven track record and reputation as a leading partner speak for themselves.
During the pandemic, many of NTC’s customers transferred 100% of their volume to the company, more than double the normal volume. NTC completed work on time and maintained a 99% compliance rate with MERS and associated data, reviewing each document for accuracy prior to execution.
Additionally, NTC’s PerfectDocs platform, designed with 30 years of knowledge and expertise, provides real-time county requirements with ease, meaning customers no longer need to purchase or maintain costly infrastructure. No, but still can maintain some processes in-house if desired. When incorporated with NTC’s suite of lien release services, PerfectDocs becomes a solution factor for any business disaster recovery or continuity plan, including resource considerations, work from home requirements, or simply volume flow is included.
NTC has expanded its offerings to provide greater flexibility and choice in designing a complete lien release solution, ultimately resulting in lower costs and less risk for its customers. The company advises on best practices and process implementation, from resolving a range of title issues and managing paid collateral to recording documents and dispatching collateral to the borrower.
NTC is the cornerstone of lien release processing and management services in today’s challenging marketplace. The company maintains scale and infrastructure and is investing in greater service capabilities at a time when many customers are not able to maintain industry knowledge or infrastructure on their own. NTC can eliminate redundancies and inefficiencies along the way, as the company can support customers whether they prefer a one-stop shop or share-the-work approach.
