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In real estate, mortgage assignments refer to the transfer of mortgage rights on a loan tied to a property. When a homeowner borrows from a lender (e.g., Bank A), they pledge the property as collateral. If Bank A decides to consolidate loans or transfer assets, it may transfer the mortgage to another lender (e.g., Bank B). This process does not create a new loan; instead, the original mortgage is simply documented in the land records through a mortgage assignment. This paperwork formalizes the transfer without altering the original mortgage terms, ensuring the loan remains consistent during the lender change.