So, you’ve made the decision (the right one, in our slightly-biased opinion!) to turn over some of your title agency’s time and cost intensive services to a qualified third party. Think of the hours you’ll save by having a professional using a proven system to manage your curative as well as release tracking!
But before you rush into your purchase, ask yourself a few more questions. After all, anything worth doing is worth doing well.
Just about any service provider offering release tracking services offers to locate first mortgage liens. That’s at the heart of the matter. But do they also track the following?
- Judgement liens
- Tax liens
- Missing assignments
- Municipal liens (a growing concern in many places)
- HELOC-related clouds
- UCC-related issues
A defect or cloud on title resulting from any of these issues can delay a settlement just as easily as a typical first mortgage lien. The heart of a title agent’s world is locating and curing clouds on title to a property. Any clouds. Sure, first mortgage liens are among the most common defects, but is that something you want to explain to your lender client when a long-awaited closing is rescheduled because you missed a tax lien?
As with anything else, do your homework before you jump into a release tracking/curative solution. You can likely guess whether or not reQuire offers these services (HINT: We do.). So get in touch with us now and let us show you how comprehensive our coverage is.
About the Author
Angela joined the reQuire team in February 2012. She has over 15 years of experience in sales and marketing in commercial building, publishing, software, and real estate services. Angela completed her undergraduate degree at Rockhurst University in Kansas City, Missouri and she earned an MBA from the University of Phoenix in 2006. Angela lives with her family in Glenwood, Maryland and enjoys spending time with them traveling and playing golf and tennis.