If any company or business is looking for an organization to emulate, it would be Nationwide Title Clearing, Inc. The company began its journey in 1991 as a small, regional title and documents company and today it is one of the largest in the world in its field. It handles the sourcing of documents found in all of the jurisdictions and counties in the United States, which amounts to over 3,600 places to look.
The keys to the success of document companies are to be able to deliver to the customer the required documents accurately and at great speed. Nationwide has a compliance rate of 99.89% and a failure rate of only .78%, meaning that they are nearly 100% on both counts.
Considering the sheer volume of documents that the company processes, this is an incredible statistic. Eight out of the top ten retail mortgage and lending businesses have chosen Nationwide as their primary sources for their documents. These companies include some of the largest mortgage and lending companies in the world.
Employees are given lots of credit for the robust statistics at Nationwide. From the beginning of their employment, they go through a very intensive training for about three weeks and then are continually supervised closely until they master their job.
There are also about 150 additional training modules available at the discretion of the employees which are used for additional training and skills. Many of these modules are instrumental in various paths to advancement and employees are given time to pursue these options. Up to 70% of the workforce is involved in the extra training at any given time.
Success does not usually happen by accident, especially with large companies. Nationwide is experiencing rapid growth largely due to more retail mortgage companies recognizing the skill and results exhibited in the past. The company has grown over 700% since 2008, for example, and continues its trend year by year. These kinds of results happen for a reason.
John Hillman, CEO of Nationwide made an industry-wide podcast recently where he talked about results in the industry and what has to be done to achieve them. Compliance is a much-discussed topic in the industry, yet it always seems to be a problem in some circles. Hillman went on to say that if you want good compliance, you must train for it and let employees know what is expected. Then a high level of monitoring must also be in place to measure results and communicate to employees. You keep the score, and the score will improve.