Real estate loans that are within the western states are typically secured by a Deed of Trust which is recorded in the county recorder’s office where the property is located. The Deed of Trust always has three parties to it: the borrower, lender, and a trustee. During the life of the loan, the lender has the right to appoint a successor trustee, accomplished by recording a Substitution of Trustee.
When the loan is paid-in-full, the lender is required to request the trustee to reconvey (release) the loan by recording a Full Reconveyance (often referred to as a Lien Release). If the loan is partially paid, the lender may request the trustee to record a Partial Reconveyance, thereby releasing a portion of the property originally encumbered by the Deed of Trust. Additionally, the lender reserves the right to release all the property, even though the loan might not have been paid in full. This is accomplished by requesting the trustee record a Full Reconveyance Without Satisfaction.
TSI is fully equipped to process the various types reconveyances that the lender must process. Since 1994, TSI has been developing its own proprietary database and website for fast and efficient processing reconveyance on a national level, while maintaining the flexibility to meet each customer’s specific needs.