Nationwide Title Clearing (NTC), a provider of research and document-processing services to the residential mortgage industry, announced the results of an internal analysis of client costs with NTC Research Services, which found that the company generated cost savings of over 50 percent.
The company performed an internal study to determine the true cost savings the company was capable of delivering its clients on lien release and its final documents services. In that study, NTC delivered cost savings of 54 percent and 46 percent, respectively.
NTC was able to perform 87 percent of the client's orders online by utilizing in-house data sources. Some of the cost factors considered in their clients’ savings include FTEs, timeliness of meeting statue deadlines, reject reproduction, infrastructure and technology, management, mail fees, training, overtime and overflow management, imaging per-page fees, legal and research, abstract, and many other factors.
John Hillman, CEO of NTC, explained that NTC prides itself on making sure their clients come first by conducting this extensive study. “Every NTC client knows that they are saving money by working with us, but we feel it’s important that they know how much they are saving,” he said. “It requires a comprehensive study to determine exactly how much a company is spending internally on a function and we underwent our study with the same diligence that our clients would. After a careful analysis of all of the factors that do go in into the completion of the work we do for our clients, we were very pleased with the results.”