Virginia Beach, Feb. 26, 2014 (GLOBE NEWSWIRE) -- reQuire, LLC ("reQuire"), the leading online lien release tracking and reporting service for the real estate settlement services sector, announced that it has entered an investment partnership with L2 Capital Partners. Terms of the deal were not announced.
Daniel R. Morris, reQuire founder and CEO, noted, "We considered a number of partnership opportunities over the years and I believe the L2 Capital team are the perfect match for reQuire. Bob Levine and his team immediately understood our vision, mission, and the business opportunity along with ways they could help us grow. Their experience, acumen, resources, and industry contacts will undoubtedly position reQuire as the 'go to' source for risk abatement solutions addressing the title and mortgage industries. We could not be more excited about the path forward and believe this move constitutes an unbeatable investment partnership that will provide significant benefits to the consumer."
Bob Levine, Managing Partner of L2 Capital, said, "reQuire's patent-pending process provides a unique opportunity to redefine lien release compliance in all residential real estate transactions. Unreleased liens create headaches for all parties involved, and the number of liens that remain unreleased a year after a residential closing is astounding. We are looking forward to supporting organic and external growth through further penetrating the U.S. market and leveraging the company's defensible market position with additional products and services."
reQuire's web-based software has tracked, reported, and obtained lien releases associated with paid-off mortgages and lines of credit for over 1,000,000 liens. The company has celebrated many growth milestones in recent years including being twice-ranked on the Inc. 5000, Inc.'s exclusive annual ranking of the nation's fastest-growing private companies.
reQuire is the leading lien release tracking and reporting service in the real estate settlement services industry. For more than a decade, reQuire has pro-actively tracked and verified the payoff and cancellation of prior mortgage accounts and liens after the closing for the land owner. Our goal is to restore certainty in the closing by minimizing costs, disruptions, and frustrations for all parties associated with the transaction - land owners, realtors, loan officers, attorneys, underwriters, and settlement agents.
Founded in 2002, reQuire provides a unique solution to the epidemic problem in the industry related to unreleased liens associated with mortgages and deeds of trust. The inconsistency in lien release-reconveyance methods among States and courthouses has created an ongoing and costly problem in tracking and reporting the release of these liens. Many are familiar with setbacks associated with unreleased liens. Our goal is to eliminate setbacks for everyone at the closing table.
CONTACT: Kristen Malcom 757-226-8049 firstname.lastname@example.org
Source: reQuire Release Tracking