Even if the title was researched for the initial mortgage, the lender wants to know if any changes have occurred in the title since that time. For example; a search might reveal a judgment that was filed against the owner since the date of the original mortgage and the lender could require that the judgment be paid before refinancing.
Our role in refinancing varies. In some cases we may contact lenders to determine the amount of money required to pay off existing mortgages. We may also also communicate with the property owner, attorneys, government officials, surveyors and creditors who are working to resolve title issues before the refinancing occurs. If the title company is hired to close the transaction, the closing agent gathers all of the documents required for the refinancing.