Capital Markets players in the mortgage industry are becoming more proactive in their efforts to make efficient secondary market trades and are demanding that their partners do the same, according to a recent internal study performed by Nationwide Title Clearing. For the past decade, NTC has been delivering services that assist the Capital Markets sector for the past 10 years, but the demands these industry players have made of their partners have changed significantly over that period.
Our Capital Markets partners are still operating in a very challenging environment, and to be effective and protect their profitability, they have been driven to update their requirements, said Michael OConnell, Chief Operations Officer at NTC. With industry demands for side letter management, portfolio clean up, and due diligence for purchase, it comes as no surprise that more and more companies are becoming proactive in their efforts. Companies need to rely on partnering with experienced vendors who can provide customized solutions catering to their capital market needs, which then will allow them to focus their attention on the bottom line.
That is exactly what NTC has seen happening in the market. Many of the companys clients in this sector have been reducing the number of partners they rely on, driving vendors to offer more complete packages. This has led NTC to package its solutions to include file intake with secure storage, collateral review, remediation, and transfer and delivery services. The company delivered this package for two of the largest portfolio transfers to occur over the past four years.
Every transaction is different, and customizing the solution is key, OConnell said. Our clients expect us to know what they need and be in a position to assemble the right package of services to meet those needs. Fortunately, we are well equipped to deliver customized solutions. Its what we do every day.
NTCs customized services have been well received by Capital Markets clients and fall primarily into three areas of critical concern to these players:
Side Letter Management:
- Exception Clearing and Tracking
- Managing Buyer Expectations
- Centralized Single Source of Data
- Robust Reporting
- Building True Exception Reports
- Identifying and Separating Critical/Non-Critical Exceptions
- Remediating Exceptions
- Managing Cleared Exceptions in Real Time
Due Diligence for Purchase:
- Property Reports
- Mortgage Position Validation
- Validation of Exception Reports
- Collateral Review
The days of a one-size-fits-all service offering for the mortgage industry are now long past, said NTC CEO John Hillman. Today, its about meeting the specific needs of the companies we serve. That can be very challenging for a vendor that has not built flexibility and agility into their operation and for those that dont have extremely well trained executives to lead their efforts. Weve built NTC on those foundations and thus enjoy great relationships with our clients, particularly in the Capital Markets sector.
To find out more about NTCs Capital Markets offerings, contact the company today.
Nationwide Title Clearing, Inc. (NTC) was founded in 1991 and has grown into a national leading post-closing services provider for the residential mortgage industry. NTC provides a wide range of services to the nations top mortgage lenders, servicers and investors as well as various government entities. NTCs mission is to deliver Life of Loan services with the highest level of accuracy partnered with the mortgage banking industry to protect homeowners while also preserving the integrity of the nation’s land records. For more information, visit the companys website at www.nwtc.com.