Articles

The Secondary Market, Releases and You

It’s pretty hard to forget that most (if not all) of our title/settlement orders will eventually be going to the same place: the secondary market. In addition to complying with federal regulations, state laws and municipal ordinances, chances are good that you’ll be asked to go above and beyond the letter of the law to meet your particular lender’s requirements.  And chances are excellent that those requirements are shaped, in large part, by the requirements of the GSEs for notes they’re willing to accept.  Long story short—if your settlement work doesn’t meet GSE and investor “guidance,” there’s a good chance your lender won’t be sending you more orders down the road.

With that in mind, remember that release tracking is not a “nice to have” any more. Fannie Mae has made it clear that notes it will accept must have first lien position and enforceability. That means that any releases on the property must be recorded.  Not recorded?  No sale—not to a GSE, anyway.

Fortunately, ReQuire has you covered. We’ve been providing the industry’s leading release tracking services for a long time now.  So make it easy on your business.  Let us handle your tracking and curative services, so you can focus on the things you do best—like growing the business!

Contact us today to hear just how easy it is!

About the Author

Linda Aparo
Linda has more than 25 years of experience in the title insurance and real estate industry working both with underwriters and agencies in different states. She worked as a closer before becoming a leading sales person in the title industry working for several national underwriters. Linda was the Founder and CEO of Final Trac, a national release tracking company before its acquisition by reQuire. She participates on the Real Property Committee for ALTA and has an outstanding record of success in identifying business opportunities, developing strategies, and implementing actions to boost business performance. When Linda is not traveling for business she loves to explore new places with her husband. Together they have four children and two grandchildren. On the very few sunny warm days in New England, you can find her most often in the garden she created with her husband or sitting on a beach in Rhode Island.

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