In a move that confirmed the firm’s supremacy in the mortgage and financial sector, Nationwide Title Clearing, Inc. (NTC) was the first company to address title defects concerns in the industry. After upgrading its website in 2014, the company reduced the numerous hurdles that used to mar the property reports acquisition process during mortgage transactions. This move came at a time when a debate was gathering momentum among the industry’s stakeholders on how title defects were causing unnecessary delays in transfer of ownership of assets. With readily accessible property reports, NTC’s clients can have a clear picture of the ownership status of a property as well as know whether anyone lays claims to a property before engaging in a mortgage transaction.
What Causes Title Defects
A title can be rendered defective for several reasons. The most common reason is due to unsettled claims by other people, especially about loans and debts that the property owner could have taken using the property as collateral. Title defects can also arise as a result of compliance issues, particularly when a mandatory signatory fails to sign the transaction documents or the documents’ wording falls short of the set standards. Other reasons are procedural; like in a situation where due process is not followed when recording or filing documents. With all these reasons, having property reports beforehand is of paramount importance since it helps property buyers to address title defects early enough.
Word from the CEO
According to NTC’s president, John Hillman, the provision of online property reports was in line with the company’s commitment and dedication to helping its clients secure properties in a speedy process. Hillman assured customers that the reports provided on their website are authentic since they are obtained from reliable County land records. To add onto that, he communicated that the records are passed through a thorough verification process that involves automated systems and human authentication to confirm the accuracy of the data provided. The CEO also added that NTC was aiming at customizing the reports to suit particular property needs for its clients to ensure that they do not end up acquiring many documents that could be irrelevant to their particular needs.
Nationwide Title Clearance, Inc. is a Florida-based institution that conducts research and processes documents on behalf of residential mortgage market players. The company’s main clients include mortgage investors, lenders, and servicers. Since its creation in 1991, the company has bagged numerous accolades, including the Hire Power award in 2012 and 2013.
It has come to the attention that Middlesex County Improvement Authority has not paid the obligated $1 million in principal for a $20 million loan. The loan was given by Casino Reinvestment Development Authority. The loan was established in 2005 to go towards constructing The Heldrich. The Heldrich is a hotel and center for holding conferences. The New Brunswick Development Corporation was involved with the development. Chris Paladino who is an attorney involved with the case regarding the unpaid payments mentioned that the Casino Reinvestment Development Authority will be paid the amount it is owed in several years. Since opening in 2007 The Heldrich has run into problems trying to attract many guests. The corporation had to use about 776,000 of its own money to help fund basic expenses.
The loan provided by the Casino Reinvestment Development Authority is supposed to be paid back with revenue made by The Heldrich. The hotel as stated before has not performed to the expected standards. As this issue continues to get sorted out the Atlantic County Improvement Authority is getting ready to loan $120 million for Gateway Project. Atlantic County Improvement Authority is very confident shortfalls and financial woes like The Heldrich will not be experienced. For more information read the article found on Press of Atlantic City by clicking this link.
Devco is a nonprofit real estate company. Devco was founded during the 1970’s to act as a facilitator for revitalization of the city. Devco has helped the city to achieve remarkable expansion throughout the years. This company specializes in building tactical alliances, strong partnerships, and groundbreaking financial structures. Devco has been involved with New Brunswick reaching close to $1.6 billion in investments.
In conclusion, unpaid loans continue to raise questions in the real estate news while structural buildings are underway.
Real Estate Mavericks, the latest venture of serial entrepreneur Greg Hague is offering a new angle for agents looking to sell homes in the real estate market. The founder of Real Estate Mavericks is famous for implementing several new strategies in the real estate scene such as 990 Sell Homes, which enjoyed tremendous success for selling homes for a small flat commission of 6% and included a multitude of services. In addition, the real estate market innovator has built up his own real state companies in the Southwestern region of the United States and turned them into multi-million dollar profitable companies. Greg Hauge can be considered an expert in the real estate market as well as a pioneer that has brought new strategies and tactics to the real estate scene.
Hauge’s latest venture, Real Estate Mavericks is a firm that offers coaching to real estate sellers. His newest philosophy advocates shaking things up a bit in the real estate scene by adding tactics used in the online retail world. Hague states “that he has been extremely surprised that nobody has added “the techniques and strategies used in online sales by leading companies such as Amazon and Apple” and applied it to real estate. He goes on by saying “that sellers today, are sticking to traditional methods of selling homes which are becoming antiquated.” Today’s real estate sales process can be described succinctly as “hope marketing” and Hague’s Real Estate Mavericks company addresses this issue from all angles. Hope marketing is instead of taking proactive steps to sell a home, you just list a home, place a sign and hope for a seller to pop up along, and be interested.
That method, which is currently the dominant method employed by most real estate professionals needs to change according to Hague. It hurts the price of homes and results in the loss of sales prices due to homes sitting on the markets for an extended period of time. Instead, he advocates creating a buzz first, generating interest and attracting prospective buyers before a home is ever listed on the marketplace.
You have to be clever in the real estate market, where there is stiff competition for agents and buyers will look to bargain in each and every possible way. This new approach developed by Greg Hague is taught at Real Estate Mavericks. Agents can learn of this new approach through an immersion course offered by the company. Real Estate Mavericks also a offers professional development service called LinkedIn Pro for real estate agents that is meant to boost the image and reach of sellers. The current real estate coaching program is limited to 100 agents per month, includes protected market areas and franchising rights.
Read more at Forbes online