Mortgage Release Certificate Program

Exterior of a red multi-story home in a neighborhood

Tie Up Loose Ends

Unreleased mortgages often delay real estate closings. The Mortgage Release Certificate Program (MRCP) is a simple and inexpensive way to obtain a release of a mortgage that has been paid in full but improperly released or not released of record. A lender, attorney, abstractor, real estate broker or licensed closing agent must complete an online application to request a mortgage release certificate.

Application Process

To file a request for a Mortgage Release Certificate, a lender, attorney, abstractor, real estate broker or licensed closing agent may complete an online application.

Documentation Requirements

  • Payment: $200 nonrefundable payment by e-check or credit card. (If the outstanding mortgage was paid off by an Iowa Title Guaranty participant using the Rapid Certificate program, the fee is waived.)
  • Payoff statement: written documentation from the mortgage servicer showing the amount owed and address for payment.
  • Proof of payment: cancelled check or wire transfer receipt.
  • Additional supplemental documentation: including written closure request from borrower to lender if mortgage involves a line of credit.
  • If lender or servicer is no longer in business: an Affidavit from the applicant when notice is to be published.

Servicing Notice and Filing the Release

  • Application will be processed promptly upon submission.
  • Iowa Title Guaranty shall notify the lender or servicer by certified mail of the intent to execute and record a Mortgage Release Certificate.
  • If there is no lender or servicer to whom ITG can send the notice, ITG shall provide the applicant with a notice to be published. The applicant is responsible for publishing the notice in the county where the mortgage was recorded, once per week for three consecutive weeks. Upon completion of service by publication, applicant must provide Iowa Title Guaranty with the Affidavit of Publication.
  • The lender or servicer must provide written objection to Iowa Title Guaranty within 30 days from the effective date of the service. Should the lender or servicer fail to respond within the 30-day period, ITG shall proceed with recording the Mortgage Release Certificate.

FAQs

Resources

email icon
Stay Connected

Iowa Title Guaranty Newsletter Sign up

Learn about the latest news and information from Iowa Title Guaranty.

Sign Up