MARCH 2020 ISSUE
We want to update you on the steps that reQuire is taking to protect the health of our associates and their families during these unprecedented times, as well as the steps we are taking to continue delivering the critical services that you count on to serve your clients.
Our business continuity plans include strategies to transfer workloads among various geographic locations to manage localized impacts and deploy enhanced remote working to support business continuity in affected areas. reQuire already employs a significant number of remote associates across the country and has activated further remote work for remaining teams to promote social distancing. We eliminated non-essential travel plans in favor of meetings with clients and business partners by video and phone conferences.
In addition, we have also worked with our vendors and supply chain partners to enhance continuity preparedness. We have an active team consisting of personnel at all levels of the organization that is continuing to manage our business continuity efforts. Additionally, we are following guidance from the Center for Disease Control in our response.
If you have any questions, please contact us directly or the same reQuire team members you called before this pandemic. We are here.
In the meantime, our thoughts go out to everyone who has been impacted by this health emergency and the shock waves it is sending through our economy and our society.
Normally, the pace of change in our industry is somewhat slow and fairly predictable: Rates go down, refinances and home purchases pick up, lenders and title companies get busier. However, anxiety over the Coronavirus is whipsawing the rate of change and the amount of disruption in the markets, our industry and our daily lives. Interest rates on bonds (and soon mortgages) are testing all-time lows. Large stock market gyrations are threatening to end the longest period of economic expansion in U.S. history. Conferences are being canceled, companies are issuing travel bans and implementing work-from-home policies, state governments are declaring “states of emergency” and the World Health Organization has declared a pandemic.
So, what does this mean for our industry? In the near term, it could mean more demand for our products, with some observers now predicting a $3 trillion year (on top of a $2.3 trillion 2019). This, in turn, will translate into more pressure on all of us to perform at peak levels while balancing health and safety concerns for ourselves and our families. Hopefully, the scope and duration of these uncertain times will be short. In the meantime, with all the projected refinances, it’s important to implement reQuire’s Release Tracking services in order to stay abreast of the recordation of releases on payoffs so there’s no delay in closing upcoming deals.
Did you know our billing address has changed? All checks and invoices or any inquiries regarding billing should be directed to:
Require Real Estate Solutions, LLC
720 S Colorado Blvd, Suite 200
Glendale, CO 80246
P: 877-516-8121; Option 1
All other correspondence and supporting documentation can be sent to:
Require Real Estate Solutions, LLC
5029 Corporate Woods Dr, Ste. 225
Virginia Beach, VA 23462
DID YOU KNOW?
You can now track Judgment, Municipal and UCC liens that are recorded on land records with our basic Release Tracking solution. Previously, only mortgage liens were covered under Release Tracking. Need a copy of the release or review for defects? Contact Linda Aparo to learn how to upgrade to Release Tracking Plus today!
John Kirk, Managing Attorney, Schaeffer Douglas Title
John Kirk is the Managing Attorney of Schaeffer Douglas Title. John has been a client of reQuire’s for more than nine years. Recently, we sat down with him to learn more about him, his company and their needs.
Q. Can you give an overview of the company and your role?
John Kirk: Schaeffer Douglas Title is a full-service title company that specializes in residential and commercial real estate closings based in South Portland, Maine. I’ve been with the firm for a little more than two years, and as the Managing Attorney, I wear a lot of hats. I review titles, I handle underwriter interactions when they have title issues and, of course, I do a lot of closings. The running joke in our office is that I sit in my office and wait for things to go sideways, and then I fix them.
Q. So, why reQuire?
John Kirk: I used reQuire at my previous company and have always been a cheerleader for what you do. When reQuire started doing business in Maine, Eric Schaeffer, our owner, got on board as well. We use reQuire’s release tracking and title curative solutions. Using the curative service allows us to quickly resolve outstanding title issues without holding up our closings and, most importantly, allows us to issue a clean policy. In terms of the Release Tracking product, it’s helpful because we’re often contacted by another title company saying “Hey, we found this undischarged mortgage, what’s going on?” and all we have to do is look back in our records, find out that it was submitted to reQuire and done…problem solved.
Q. What would you say to a title professional about the importance of Release Tracking?
John Kirk: Well, the first thing I would say is that I wish we’d had this years ago! We certainly would not have had the issues we experienced with undischarged mortgages if the system had been available sooner. Having a system in place, like reQuire’s, allows you to free up valuable resources, aka your people’s time, and rely on the experts. You don’t have to worry about the discharges being correct, and you don’t have to chase it down anymore. You can focus more on people and less on paperwork.