assignment of a mortgage

When your original lender transfers your mortgage account and their interests in it to a new lender, that’s called an assignment of mortgage. To do this, your lender must use an assignment of mortgage document.

An assignment of mortgage is a legal term that refers to the transfer of the security instrument that underlies your mortgage loan − aka your home. When a lender sells the mortgage on, an investor effectively buys the note, and the mortgage is assigned to them at this time.

The assignment of mortgage is used to transfer a mortgage to another servicer. Here’s what this could mean for you.

An assignment of a mortgage refers to an assignment of the note and assignment of the mortgage agreement. Both the note and the mortgage can be assigned. To assign the note and mortgage is to transfer ownership of the note and mortgage.

What is Assignment of Mortgage? The assignment of mortgage, often simply referred to as mortgage assignment, is a legal process that involves the transfer of a mortgage loan from one party to another. This transfer typically occurs between mortgage lenders or financial institutions and is a common practice within the mortgage industry.

The act of transferring a mortgage from one party to another is called assignment of mortgage. What does Assignment of Mortgage mean: The most common example of an Assignment of Mortgage is when a mortgage lender transfers/sells the mortgage to another lender.