PALM HARBOR, Fla., Aug. 21, 2012 /PRNewswire/ -- Nationwide Title Clearing, Inc. (NTC), one of the country's leading service providers to the mortgage and financial services industry, made the Inc. 500|5000 list at number 2730, despite the fact that the U.S. has experienced its roughest economy since the Great Depression of 1929. Inc. magazine, one of the few major business magazines focused solely for CEOs of fast-growing, private companies, unveiled its annual list of the fastest-growing companies in America on August 20, 2012.
A recent article from Forbes stated that over the 2007–2010 period, the U.S. economy experienced its most substantial downturn since the Great Depression. The real gross domestic product (GDP) fell nearly 5.1 percent between the third quarter of 2007 and the second quarter of 2009, the official period of recession as determined by the National Bureau of Economic Research.
In contrast, there are very specific criteria a company must meet in order to be even considered eligible for the Inc. 500 list during that same official period of recession. A company must have generated at least $100,000 in revenue in 2008 and at least $2 million in revenue in 2011. Other qualifications include being privately held, for profit, based in the U.S., and independent (not a subsidiary or division of another company).
The fact that NTC has fared so well in such a grim economy is a testament to the initiative and drive of the NTC work force. Because of their ability to deliver highly accurate and fast results, that growing need in the industry has put them into a position of leadership and support to their clients, which include eight of the 10 largest mortgage lenders and servicers in the U.S. The company's 2011 release of PerfectChain(SM) Assignment Verification Reports service is another means by which NTC has been working for years to develop much-needed industry best practices in order to help legislators, mortgage lenders, servicers and homeowners gain certainty and confidence.
"It is very gratifying to be recognized among other nationally ranked companies on this prestigious list. I consider it an honor. Our employees have been working extremely hard for years to establish and perfect the systems we have in place," commented John Hillman, CEO for Nationwide Title Clearing (NTC).
Founded in 1991, privately owned Nationwide Title Clearing, Inc. has been a role model that performs land records research services and processes documents for the residential mortgage servicing industry. It is known as the leader for best practices in the post-closing mortgage industry and as an advocate for best practices and legislation that standardizes the industry and ultimately benefits the American homeowner.
The Inc. list debuted in 1981 and companies such as Microsoft, Zappos, Clif Bar, Intuit, Jamba Juice, Zipcar and Oracle gained early exposure as members of the Inc. 500. Through each evolution, Inc. has sought to recognize and to celebrate the creativity, dedication, and hard work that entrepreneurs put into building their companies.
"This achievement puts you in rarified company, especially if you consider that there are nearly 7 million private, employer-based companies in the U.S.A.," said Inc. Editor-in-Chief Jane Berentson, in a memo to last year's Inc. 500 list.
About Nationwide Title Clearing, Inc.:
Based in Palm Harbor and founded in 1991, Nationwide Title Clearing (NTC) is a privately owned leading service provider to the mortgage and financial industry performing land records research services and processing documents for the residential mortgage servicing industry. In addition to supporting lenders, servicers and investors, including eight of the top 10 residential mortgage servicers in the country, the company's land records and document experts are able to track and fulfill county document requirements for close to 3,600 recording jurisdictions nationwide. NTC specializes in providing property reports, lien release and assignment services, final document tracking, document retrieval, imaging and other custom business solutions. For more information, visit the company's website at www.nwtc.com.
Diane D. Stein
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SOURCE Nationwide Title Clearing, Inc.