Virginia Beach, July 17, 2013 (GLOBE NEWSWIRE) -- Virginia-based reQuire, LLC, an online solution provider for the settlement services industry, announced today that Pratik Kothari has been appointed to its new chief technology officer position.
In his role as chief technology officer, Pratik will be responsible for overseeing, managing, and coordinating all aspects of reQuire's Information Technology Department. In keeping with reQuire's commitment to continued exploration and innovation through technology, Pratik will develop, execute, and manage computing and information technology strategies for the company.
"Pratik came to reQuire nine years ago and throughout this time has been crucial in the development and success of our release tracking and reporting system," said reQuire founder and CEO, Daniel Morris. "Pratik has a natural instinct for identifying cumbersome manual business processes and quickly formulating efficient and functional technology solutions. His insight and leadership has and will be essential in driving our technology and overall strategy processes forward as reQuire continues to grow."
"I have enjoyed the past nine years at reQuire and I feel extremely proud to have been a part of the company's growth," said Kothari. "reQuire offers the right mix of flexibility, opportunity, empowerment and trust to foster new ideas. I am excited to move into this new role as reQuire continue to grow."
Pratik joined the reQuire Team in 2004 as a senior software developer and was promoted to director of information technology in 2007. He is also the founder of a software development firm, Techark Solutions, that produces mobile apps. He holds a bachelor's degree in computer science and also received his master's degree in computer science from Old Dominion University.
About reQuire Release Tracking
reQuire is the leading lien release tracking and reporting service in the real estate settlement services industry. Its primary customers are companies performing real estate settlements and disbursing payoff funds to satisfy lien requirements. For more than a decade, reQuire has proactively tracked and verified the payoff and cancellation of prior mortgage accounts and liens after the closing. Our goal is to restore certainty in the closing by minimizing costs, disruptions, and frustrations for all parties associated with the transaction - homeowners, realtors, loan officers, attorneys, underwriters, and settlement agents.
Founded in 2002, reQuire provides a unique solution to the epidemic problem in the industry related to unreleased deeds of trust. The lack of lenders statutory compliance and the inconsistencies in lien release-reconveyance methods among states and courthouses has created an ongoing and costly problem for settlement agents in tracking and reporting the release of property liens. Many are familiar with setbacks associated with unreleased liens; our goal is to eliminate setbacks for everyone at the closing table.