Assignment of Mortgage Package - Michigan 2025

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  1. Click ‘Get Form’ to open the Assignment of Mortgage Package in our editor.
  2. Begin with the 'Assignment of Deed of Trust by Individual Mortgage Holder' form. Fill in the mortgage holder's name and address, followed by the details of the third party receiving the assignment.
  3. Next, complete the 'Assignment of Deed of Trust by Corporate Mortgage Holder' if applicable. Ensure you include the corporation's name and authorized representative's signature.
  4. Proceed to the 'Letter of Notice to Borrower of Assignment of Mortgage.' This letter should inform the borrower about the assignment. Fill in their details and ensure clarity in communication.
  5. Finally, complete the 'Letter to Recording Office for Recording Assignment of Mortgage.' Include all necessary information for proper recording and submit it as instructed.

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The assignment fee refers to the payment made to an individual, generally known as an assignor, for transferring their rights and obligations under a pre-existing real estate assignment contract to another party, known as the assignee.
Therefore, for a transfer of a mortgagees interest to be effective, it is necessary to record an assignment of a mortgage in the land records. In the Real Property Article, deed of trust and mortgage are defined separately.
In a mortgage assignment, your original lender or servicer transfers your mortgage account to another loan servicer. When this occurs, the original mortgagee or lenders interests go to the next lender. Even if your mortgage gets transferred or assigned, your mortgages terms should remain the same.