What is a mortgage assignment?

Q: What is a mortgage assignment?

A mortgage assignment is the legal, recorded document showing the transfer of a mortgage from one lender to another. This transfer includes all rights and obligations associated with the mortgage; collecting payments and enforcing loan terms. Assignor (original lender) and Assignee (new lender) are the parties involved. This will often arise over the course of a long term mortgage that remains unsatisfied due to the sale of the loan or a loan servicing transfer. Typically law requires notification to the mortgagee (borrower) of the assignment. Loan terms do not change due to assignment, and payment terms remain as originally agreed.

A mortgage assignment is the legal, recorded document showing the transfer of a mortgage from one lender to another. This transfer includes all rights and obligations associated with the mortgage; collecting payments and enforcing loan terms.

Assignor (original lender) and Assignee (new lender) are the parties involved. This will often arise over the course of a long term mortgage that remains unsatisfied due to the sale of the loan or a loan servicing transfer. Typically law requires notification to the mortgagee (borrower) of the assignment.

Loan terms do not change due to assignment, and payment terms remain as originally agreed.

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What is a mortgage assignment?

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