Releasing Mortgage Liens for Lenders
Assure first lien position and stay compliant.
As a lender, you find, sell, counsel customers, and take applications for loans. It is your responsibility to choose a loan arrangement in the best interest of both parties.
Once a loan is approved, it is applied to a property. Until all liens are clear on that property in the event of it being sold or purchased, a lender cannot release a loan.
Here’s how reQuire can help:
- reQuire helps assure that the new loan is put in a first lien position shortly after each closing.
- reQuire helps assure that, by assisting in being in a first lien position, that the lender is complying with the requirements of GSEs and any mortgage loan pooling agreements under which the loan is bundled and sold.
- reQuire helps assure that Home Equity Lines of Credit are closed shortly after closings on real property securing the HELOC.