NTC releases lien release whitepaper
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Industry News
Tuesday, May 28, 2019
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Nationwide Title Clearing has published a new whitepaper that provides a set of best practices for partnering with a lien release provider.
The whitepaper was written by NTC Vice President of Sales and Marketing Danny Byrnes, and targets mortgage servicers that manage the lien release process as a final step in processing mortgage loan payoffs.
“This report covers best practices to consider when managing third-party service providers for the processing of lien release documents, with attention to requirements dictated under today’s regulatory environment,” Byrnes said in the whitepaper’s introduction. “It’s vitally important to have vendor controls in place to manage numerous aspects of this work. In fact, it’s more important than ever before.”
The paper explains the top 13 issues that servicers should consider when evaluating lien release management partners or their own internal processes. It also covers 11 additional topics that should be considered as foundational skills that any competent vendor must bring to the table.
“Danny has outlined the eight best practices that any servicer can use to create a strong and lasting partnership with their third-party lien release provider,” NTC CEO John Hillman said. “This material should be considered important reading for anyone managing these partnerships on behalf of the mortgage servicer.”
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