NTC Takes Early Steps to Meet Training Compliance Requirements

""Nationwide Title Clearing, Inc."":http://www.nwtc.com/ (NTC) announced a new training program it developed in anticipation of changing compliance requirements.

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Earlier this year, the nation's top five banks entered into Consent Judgments with state and federal officials that included detailed standards regarding the need to use appropriately trained staff when servicing loans. Based on those standards, the NTC stated in a release that the Office of the Comptroller of the Currency (OCC) and the Consumer Financial Protection Bureau (CFPB) are expected to publicize new mortgage servicing training requirements for the industry.

Based in Palm Harbor, Florida, NTC has nearly 300 local employees. While a set of standards does not exist to pinpoint what ""appropriate training"" entails, NTC has developed a variety of new training courses designed to meet the anticipated OCC and CFPB servicing training requirements.

Training topics include security awareness, signing documents, assignments and process flows, eRecording, as well as basic terminology for the industry and Notary Regulations.

Because NTC mainly deals with preparing, reviewing, signing, and notarizing recordable documents, accuracy needs to be stressed.

According to the company release, the detailed training programs and core competencies help build transparent processes for its clients and the industry. NTC currently serves eight of the nation's top 10 residential mortgage servicers.

""We've seen the results of our new level of employee training that has proven to be absolutely vital at NTC and in our industry in general,"" said John Hillman, CEO of NTC. ""Policies can be complete in their scope and relevance to the job, but if they are not fully understood they cannot be applied daily by the people who actually do the work. Our employees are effective because we continually invest in their education.""

NTC was founded in 1991 and serves as a national firm that performs research services and processes documents for the residential mortgage servicing industry.