Endorsement In Mortgage
State:
Louisiana
Control #:
LA-701-M
Format:
Word;
Rich Text
Instant download
Description Director's Note Example
This is an example of an endorsement without recourse of a mortgage note and the mortgage securing it, and an assignment of the mortgage. This is an example of an accommodation or qualified endorsement, which is the guarantee given by one person or legal entity (in this case, a bank) to induce a bank or other lender to grant a loan to a different person (or legal entity). Lenders or holders of mortgages often assign mortgages to other lenders. When this is done the assignee (person who received the assignment) steps into the place of the original lender or assignor. To effectuate an assignment, the assignment must be in proper written format and recorded to provide notice of the assignment.
Free preview Directors Notes Example
