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Nationwide Title Clearing (NTC) Comments on Newly Enacted Mortgage Rules, Expects Market-Driven Effect on Company Practices

NTC comments on the recently implemented mortgage rules designed to eliminate risky lending practices - NTC predicts the rules will place emphasis on the company's compliance services.

PALM HARBOR, Fla., Jan. 21, 2014 /PRNewswire-iReach/ -- As a result of the questionable lending practices that led to the housing crash, the Consumer Financial Protection Bureau (CFPB) has established a national standard for issuing mortgages. The Ability-to-Repay Rule, designed to protect consumers from debt traps, took effect Jan. 10. Nationwide Title Clearing, Inc. (NTC), a leading research and post-closing services provider for the residential mortgage industry, predicts that the new guidelines will help standardize the industry. NTC officials also maintain that while the new regulations will likely not affect the company's internal compliance processes, company officials expect a greater emphasis on NTC's services that help lenders and servicers comply with the new national servicing standards, such as its various research and property report products.


The CFPB, created by the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010, instituted the Ability-to-Repay rule with simple intentions:

  • To prevent consumers from getting trapped in mortgages that they cannot afford;
  • To prevent lenders from making loans that consumers do not have the ability to repay.

In response to the compliance requirements imposed upon lenders in the aftermath of the 2008 credit crisis, NTC developed a battery of research and property report products that enable lenders and servicers to take the actions needed to manage their loan portfolios with transparency and compliance. NTC CEO, John Hillman, says the company is committed to supporting the evolving mortgage industry, particularly in compliance with the recent CFPB regulations, by providing its clients with accurate and timely research and reporting services that assist in making loan servicing compliant with new standards, and simultaneously less risky.

"The Ability-to-Repay rule is designed to avert another financial crisis and our services are made to assist lenders in complying with that process," said John Hillman, NTC's CEO. "The new rules are likely to regiment the industry, so there will be fewer differences between mortgages offered by different lenders, thereby intensifying the competition and making compliance of the utmost importance."

Despite some previous resistance to the CFPB regulations, NTC officials say that those who accept and embrace the standards—either as lenders or as borrowers—will have the potential to provide long-term stability to the mortgage industry.

NTC, perhaps most notable for its expertise in lien release processing and management, has worked closely for years with many of the country's leading mortgage lenders and servicers to standardize the mortgage assignment document process, and has made a name for itself by perfecting that process for the betterment of borrowers, homeowners, land records and the industry at large.

For more information about NTC and its research and document services, visit

About Nationwide Title Clearing, Inc.:

Based in Palm Harbor, Florida and founded in 1991, Nationwide Title Clearing, Inc. (NTC) is a privately-owned leading research and document-processing service provider to the residential mortgage industry. NTC serves mortgage lenders, servicers and investors, including eight of the top 10 residential mortgage servicers in the country. NTC is known for delivering the highest level of accuracy in research services and quality document processing that sets the industry standard while protecting homeowners, assisting the mortgage banking industry and preserving the nation's land records. The company's land records and document experts are able to track and fulfill county document requirements in all recording jurisdictions nationwide, which is close to 3,600 different jurisdictions. NTC specializes in providing land records research, property reports, lien release services, assignment services, final document tracking, document retrieval and other custom business solutions. NTC's expansion is tied to their contribution to their industry and their local community, ranking number 26 on the 2013 Fast 50 Awards list of fastest growing companies in Tampa Bay; number 1,900 on the 2013 Inc. 500/5000 list of fastest-growing companies in America, up from number 2,730 in 2012. NTC also won the Inc. Hire Power award for the second consecutive year in 2013 for putting Americans back to work. For more information, visit the company's website at

Media Inquiries:

Karla Jo Helms
888-202-4614 ext.802

Media Contact: Karla Jo Helms, JoTo PR, 888-202-4614, [email protected]

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SOURCE Nationwide Title Clearing, Inc.

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