Compress Legal California Assignment Mortgage Forms For Free

Transfer of mortgage is a transaction where either the borrower or lender assigns an existing mortgage (a loan to purchase a property?usually a residential one?using the property as collateral) from the current holder to another person or entity.

In a mortgage assignment, your original lender or servicer transfers your mortgage account to another loan servicer. When this occurs, the original mortgagee or lender's interests go to the next lender. Even if your mortgage gets transferred or assigned, your mortgage's terms should remain the same.

The most common example of an Assignment of Mortgage is when a mortgage lender transfers/sells the mortgage to another lender. This can be done more than once until the balance is paid. The lender does not have to inform the borrower that the mortgage is being assigned to another party.

[________] and lying bearing and situate at ____________________ within the city/village limits of [______] registration sub-district [______] and district [_______] (hereinafter referred to as the ?Mortgaged Premises?) and described in the Schedule hereunder written as a security for repayment and payment of the said ...

The release assignment must be recorded at the local land office in order to be valid. It contains a legal description of the property, the borrower's name, the title company's contact info and the date the release takes effect. A copy of the release is sent to the borrower and should be kept for future reference.

The Court's holding requires that prior to the assignee of a mortgage loan filing suit on the note or mortgage, the assignee must have received both an allonge/assignment of the note and an assignment of the mortgage.