General Services & Quality Questions
reQuire is an Internet-based real estate solutions provider available to the consumer through entities disbursing payoff funds satisfying lien requirements.
reQuire is an efficient, cost effective alternative to the old laborious, inefficient, costly and stressful practice of lien release management, and offers a full suite of pre- and post-close solutions to simplify your processes. reQuire’s Team does the job that nobody wants to do and does it at minimal cost to you.
reQuire began in Virginia Beach, VA as a standalone system for a few settlement agencies looking to eliminate their follow-up work on closed files in early 2000. By 2002, reQuire built and implemented a web-based system incorporating new security and integrity measures to ensure accuracy and speed in tracking and reporting methods.
reQuire tracks and reports releases, cancellations and reconveyances in all 50 states.
The fee per title curative (TCS) lien is $250.00 upon successful completion of your file. Invoices are issued when a TCS case is closed; a TCS case is considered closed when a release or assignment is obtained (recorded copy of document or index details), or payoff information is provided. In the event a document cannot be obtained within the scope of our concentrated efforts, all documentation and research findings generated will be packaged and provided as a Research history report for a $50 fee.Additionally, you have the option to expedite your request for an additional non-refundable fee of $50. By choosing this option, your request will be processed with immediate priority in order to meet your closing deadlines. Please note that turnaround times will vary by lender, therefore approximate turnaround times will be based on the specific circumstances with each lender.Please contact our Corporate Office or your Account Executive for further details.
reQuire currently has a direct integration with the tile production platforms for ResWare, RamQuest, E-Closing, and Closer’s Choice, and an integration with Qualia is currently in development. A batch import solution is currently available for Qualia users.
reQuire also offers an activeX mail merge interface that syncs the data in TSS, LandTech, SoftPro, RamQuest, ResWare, E-Closing, Closer’s Choice, DoubleTime, TitleSoft, and AIM Plus for Windows with its system. There are no charges for use of these features.
Who can benefit from reQuire Services?
Title agents will immediately enjoy quicker remittance on policies in addition to quicker file closure. Over time, agents will be free from calls from former customers, title companies or attorneys seeking a release for a case that was closed in the past. The benefits are: (1) the time saved by eliminating the need for follow-up work on closed files; (2) the relief of knowing that reQuire will track and report the status of every file entered into the system; and (3) the ability to defer any calls to reQuire that are related to releases. Settlement agents may also utilize our title curative services to track down the proper signatory for old liens that appear on their title reports from prior closings.
Title underwriters will see a reduction in claims arising from unreleased deeds of trusts and mortgages, a reduction in defalcation, and some measurable reduction in mortgage fraud. These benefits will be a result of reQuire’s efforts to verify that each and every paid note is: (1) fully paid or satisfied by the obligor; and (2) a proper lien release or cancellation instrument is recorded in a timely manner.
Sellers have the added assurance that the conveyance of their real property is truly free of the lien and encumbrance represented by the paid mortgages on their property. Borrowers (usually in a refinance) benefit by knowing the former lien will be properly released, or in the case of open lines of credit, that the credit line will be properly closed, and the related mortgage lien is released. Home buyers can be assured that all mortgage liens paid off at the closing of the property they are purchasing will be released 100% of the time.
Features of reQuire Services
reQuire tracks the releases associated with home equity lines. Because we search and contact the lender a short period after the closing, as an added benefit, reQuire will notify you if there is an open loan that you thought was closed.
Yes. Please visit the Title Curative Services page of this reQuire website. Upon clicking this link, website users interested in this service are encouraged to contact us and provide as much information as possible on the file they are trying to close.
The typical lender response time varies, however for most files, it normally takes between 30-90 days to obtain your document. The lender’s ability to respond quickly depends upon many factors such as age of the mortgage and proper documentation included in the initial request, e.g., current Title Commitment, copy of the recorded lien, all assignments of record, recorded satisfactions that may contain errors, substitutions of trustee, etc.
We also offer Expedited Services to assist you in obtaining your document in time for closing. Please contact our Corporate Office or your Account Executive for further details.
Provide reQuire with all necessary documents with your order submission, including a copy of the title work and recorded mortgage. Additional documents such as proof of payoff, HUD-1 or Combined Disclosure form from the closing reflecting payoff, paid in full letter from the lender, or a copy of the borrower’s credit report reflecting the mortgage with a zero balance, are also helpful to expediting resolution.