Nationwide Title Clearing, Inc. is an unusual company in that it is wildly successful and outperforms the competition by having a better product that costs less. It has all the latest technology and offers the best customer service of anyone in its industry.
That may sound overly solicitous, but it is all true. Nationwide does do all of that and more. The company was founded in 1991 as a small, local title company and today is one of the largest and fastest growing wholesale document suppliers in the world. Most of the larger and more successful retail lenders, mortgage companies, banks and other similar companies use Nationwide for their major document processor. These are some of the largest retail mortgage suppliers and lenders anywhere.
Nationwide has over 600 employees located in three different states. The expertise of the employees is amazing as they are very well-trained and are up to the job very quickly. The employees receive initial training for three weeks, and then they are on the job under supervision. There are extra training modules that employees can use for further advancement and roughly 50% to 70% are active in that capacity at any given time.
Nationwide can reach out to all of the jurisdictions and counties in the United States to search for and acquire documents. That amounts to over 3,600 entities that store documents. It is really important that the documents be very fast in their delivery and that they be accurate.
The speed of delivery and accuracy of the documents are what every document processor is measured by, and Nationwide ends up at the top of the list. Nationwide has a 99.9% compliance, or delivery rate with less than a 1% failure rate. All that means is that Nationwide nearly always delivers accurately and quickly 100% of the time.
Danny Byrnes, Vice President of Sales for Nationwide says that it is a difficult job to run a national abstractor network, but with proper planning, it can be done. Nationwide made the right investments from the start, 25 years ago, in personnel and technology. Because of those investments, the company has grown into what it is today.
The technology gets the product to the clients more effectively and at a lower cost. The personnel is trained to handle the technology in the most efficient manner so that it gives the maximum of what it is supposed to do. As a result, the product can be delivered to the client at about half the cost of the competition.