Iowa Finance Authority
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Mortgage Release Certificate Program

The mortgage release program provides a simple and inexpensive way to obtain a release of a mortgage that has been paid in full, but not released of record or incorrectly released. It can also provide a remedy for “missing” assignments.

  Program Procedures
Requests for mortgage releases must be made by a lender, attorney, abstractor or real estate broker.

Just submit the completed Request for Certificate of Release form to Title Guaranty along with other supporting documentation for each mortgage to be released.  Required documentation includes a copy of the payoff statement and proof of payoff – cancelled check, wired funds receipt or other proof of receipt of payment.  Once we receive the application, we will notify the lender or servicer of record by certified mail that we intend to release the mortgage.  There is a 30 day period for the lender to respond.  If we receive no response, we will record our Certificate of Mortgage Release in the appropriate county.  If no information is available we will be required to post notice in the county where the mortgage was recorded.  That process involves three weeks of publication (once per week) with a wait of 30 days following the last publication for the lender to respond.  If there is no response, we will record our Certificate of Mortgage Release. 

Also submit a check in the amount of $100 payable to Title Guaranty. This fee covers the cost of processing and researching the request, mailing any required notice as well as recording the Certificate of Release with the County Recorder.

  NOTE
If the Request is submitted in conjunction with a Title Guaranty Rapid Certificate file, this fee is waived and it is not necessary to submit the Request for Certificate of Release.  We simply need the payoff statement and proof of payment, and the Title Guaranty Certificate number.

Once we’ve filed our Certificate, the mortgage is effectively released of record.

Please contact Carrie Nutt at 515.725.4917 with questions or to request additional information.

Application for Mortgage Release Certificate

 

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