Success rarely occurs by chance and never has this statement been more accurate than the story about the success of Nationwide Title Clearing, Inc. The company was started in 1991 as a small title and loan processing company. Today it is one of the largest and fastest growing wholesale document processing company in the world.
Many of the top retail lending and mortgage companies rely on and use Nationwide for their primary documents that are used in their closing and mortgage transactions. These are some of the largest mortgage transaction companies in the world.
The importance of the service that is provided by Nationwide is evident if you have ever been involved in a property closing yourself. You know then that certain documents have to be a part of the process. The lien on the property will have to have been released, and the title will have to be cleared to be passed on to the new owner. There are other documents that need to be a part of a transaction, but the principle is clear. If there is an inaccuracy or a lost document, the closing will have to be postponed, or worse yet, a buyer may change his or her mind.
The criteria for companies like Nationwide that customers use for determining who the want to business with are the speed of delivery and the accuracy of the documents. Nationwide has a rate of successful compliance of 99.89% and a failure rate of only .78%. These figures mean that Nationwide is accurate and on time just about 100% of the time.
A big part of the ongoing success of the company revolves around the proper training and monitoring of the employees who work the process. New employees have an intensive three-week training period, and then when they reach their work stations, supervisors continue to shadow them until they are totally immersed in their jobs. The mortgage business has lots of details along the way of the delivery processes, and there are best practices at each step of the way.
Danny Byrnes, Vice President of Sales, says that the 25 years that Nationwide has been in business has given them plenty of opportunities to fine-tune the operations. The auditing of the processes has been done by just about everybody including Nationwide. Also, the investment has been made in people and technology which makes the auditing and processing a matter of course now, as all that experience has been automated to a fine degree.