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In real estate, a mortgage assignment refers to the transfer of mortgage rights on a property loan. Initially, a homeowner borrows from a lender (e.g., Bank A) and pledges the mortgage 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 involve creating a new loan; instead, the original mortgage is transferred. To document this transfer, a mortgage assignment is executed between the two banks, which allows the original mortgage terms to remain intact while formally recognizing the change in the lender.