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Assignment of Mortgage Package - Arkansas

Assignment of Mortgage Package - Arkansas 2025

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The document is an 'Assignment of Mortgage Package' from U.S. Legal Forms, Inc., designed for the owner of a deed of trust/mortgage to convey their interest to a third party. It includes various forms such as assignments for individual and corporate mortgage holders, notification letters to borrowers, and a letter for recording the assignment. The package also provides tips for completing the forms and includes a disclaimer regarding the legal use of the materials.

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How does an assignment of a mortgage work?

Mortgage Assignment Basics Mortgages are assigned using a document called an assignment of mortgage. This legally transfers the original lenders interest in the loan to the new company. After doing this, the original lender will no longer receive the payments of principal and interest.

How do I release an assignment on my mortgage?

A transfer of mortgage is the reassignment of an existing mortgage from the current holder to another person or entity. Not all mortgages can be transferred to another person. If a mortgage can be transferred, the lender has the right to approve the person assuming the loan.

Does assignment of mortgage mean foreclosure?

Assignment of mortgage is the process that records the legal transfer of a mortgage from a lender to another person or an entity. In essence, assignment of mortgage simply means that your lender has sold your mortgage note to a government-sponsored enterprise (GSE) or a private investor.

What is the assignment document for a mortgage?

A recorded mortgage must be discharged by a certificate signed by the mortgagee, his personal representatives or assigns, acknowledged or proved and certified as prescribed by the chapter on recording transfers, stating that the mortgage has been paid, satisfied, or discharged.

What is a mortgage reassignment?

Under an assignment of loan, a lender (the assignor) assigns its rights relating to a loan agreement to a new lender (the assignee). Only the assignors rights under the loan agreement are assigned. The assignor will still have to perform any obligations it has under the facility agreement.