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The mortgage release program provides a way to obtain a release of a mortgage that is paid off, but not released of record or badly released. It also provides a remedy for “missing” assignments. The process is simple and inexpensive. Requests for mortgage release must be made by a lender, attorney, abstractor or real estate broker.
A request for a release must be made by a “real estate lender or closer.” A real estate lender or closer is a person licensed to regularly lend moneys to be secured by a mortgage on real property in the State of Iowa, a licensed real estate broker, a Title Guaranty participating abstractor or a licensed attorney. Program procedures
Submit the appropriate form(s) to the Division along with the other supporting information requested for each mortgage to be released.
Submit a check in the amount of $12.00 along with the application to cover the cost of recording the Mortgage Release. Make the check payable as follows: "_________ County Recorder". (Insert the name of the county where the subject real estate is located). The check will be returned if the release is not recorded. The Division reserves the right to request additional recording fees if necessary.
Please contact the Title Guaranty Division at 800.432.7230 if a thorough review of these materials does not answer your questions. Available forms
- Instructions for use of Mortgage Release Program Forms A and B
- Form A is to be used when the loan was paid by someone other than the real estate lender or closer, or was paid by the real estate lender or closer under a previous transaction.
- Form B is to be used when the loan was paid by the real estate lender or closer under the current transaction.
- Form C is an affidavit which is used in instances where the address of the mortgage servicer cannot be found after a diligent search.
Iowa Code and Administrative Code sections
Notice of publication
The following Official Notices are posted to the Iowa Finance Authority Web site to provide additional notice to mortgage servicers of the intent of the Title Guaranty Division to execute a Certificate of Release for the mortgages described in the Notices. These Notices have also been published in newspapers of general circulation in the counties in which the mortgages to be released are recorded. Publication is required because the Division was unable to serve the mortgage servicers by certified mail or personal service or because the person requesting the certificate has filed an affidavit stating the address of the mortgage servicer cannot be found after a diligent search. Contact Title Guaranty for more information.
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