CITY OF VIRGINIA BEACH
May 19, 2010

Less than 10 years ago, reQuire, a title tracking company, began helping settlement agents in Virginia Beach close real estate transactions. Since then, it has helped streamline the national real estate industry by introducing Release Tracking ServiceTM, a web-based system that allows attorneys, settlement agents, title companies and mortgage brokers to track, report, and release real estate information quickly and easily.

"A critical requirement of any real estate transaction is clear title for the new loan. Attorneys and title agents must validate the satisfaction and release of existing mortgage loans and their underlying liens," said Daniel Morris, reQuire's founder and CEO. "Lenders who are paid off must release the lien; however, following up on them is costly and time consuming. reQuire's services take on this task at a nominal cost. The resulting benefits to all parties involved have significantly fueled our growth."

In the last few years, reQuire has doubled its staff, which now totals more than 50 employees. The company recently relocated its operations from a 3,392-square-foot building in Landmark Square off N. Lynnhaven Road to an 8,400-square-foot facility in the Corporate Woods Office Park.

"It is always exciting to see start-up companies begin their operations here in Virginia Beach and become a leader in their respective industries," said Warren D. Harris, Virginia Beach economic development director. "reQuire has helped revamp methods used to close real estate transactions, and they've done it from a place that offers a great quality of life and business climate - Virginia Beach."

The mission of the City of Virginia Beach Department of Economic Development is to attract and retain national and international business and industry that results in the creation of new capital investment and jobs that increase the per capita income in the community. The City of Virginia Beach is the most populous city in the Commonwealth of Virginia with a population of 440,908 and is the 42nd largest city in the United States. Virginia Beach has been recognized as having one of the 10 best economic development groups in the nation by Site Selection magazine. In 2006, Virginia Beach was named one of the 10 best big cities in America by Money magazine. In 2008, the Department of Economic Development received re-accreditation through the International Economic Development Council, one of only 25 economic development organizations in the world to have this recognition. For more information, visit yesvirginiabeach.com.