National Title Clearing, Inc. was established in 1991 as a local title company serving the immediate area of a medium sized community. Today the Palm Harbor, Florida company is one of the largest wholesale document and title companies in the world. Eight out of the top ten retail title companies and mortgage companies count on Nationwide for their primary source of documents.
Property closings and transfer cannot occur unless proper documents are available to verify ownership, liens, easements, encumbrances, and other details pertinent to the sale. If any document is wrong or missing, then the entire closing process is compromised. It is very important that documents be received very fast and for them to be extremely accurate. Nationwide has a compliance rate of 99.98% and a reject rate of 0.79% which is remarkable in light of the huge volume that is processed through the company.
One of the primary factors in the success of Nationwide is the high caliber of its employees, their training and a constant quest for success in delivering the right documents on time to customers. This is emphasized in the employee training that is very much in-depth and ongoing. New employees receive at least three weeks of initial training with a mentor at their side. The learn the basics and don’t advance to more complex duties until they master one phase and then another and so on.
There are over 150 additional educational modules that are voluntarily taken by employees, some of which can take months to complete. These modules are very helpful for advancement to supervisory and management positions in the company.
Nationwide is a good place to work and few employees leave. The company has been voted five out of the last six years as being in the top 100 best companies to work for according to the Tampa Bay Times.
Michael O’Connell, COO of the company, traces the high compliance rate back to what the employees are trained to do. He stated that rather than periodically test sections of a project, where 10-15% of the mechanics of a process are checked, simply to create a perception of a problem, they minutely tackle the whole problem. Only then can it be determined what will fix a problem. Then they train the employee to find the solution and compliance goes up dramatically.
The atmosphere at Nationwide is very laid back considering the amount of pressure that goes with the kind of business the mortgage industry creates. But people know their jobs, and they are good at them, and they have immense pride in achievement.
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