Assignment of Mortgage by Individual Mortgage Holder - North Dakota 2025

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The document is an Assignment of Mortgage, which outlines the transfer of interest in a mortgage from the Assignor to the Assignee. It includes details such as the names and addresses of both parties, the mortgage's date, the mortgagor and mortgagee involved, and relevant property information. The document also requires signatures and notarization to validate the assignment.
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Final answer: A mortgage loan typically comprises of two documents: the Promissory Note, stating the borrowers promise to repay, and the Mortgage or Deed of Trust, allowing the lender to use property as security for repayment if the borrower defaults.
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.
When your original lender transfers your mortgage account and their interests in it to a new lender, thats called an assignment of mortgage. To do this, your lender must use an assignment of mortgage document. This document ensures the loan is legally transferred to the new owner.
Assignments Generally: Lenders, or holders of mortgages or deeds of trust, often assign mortgages or deeds of trust to other lenders, or third parties. When this is done the assignee (person who received the assignment) steps into the place of the original lender or assignor.
In a mortgage loan, the borrower always creates two documents: a note and a mortgage.

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Legally, the term mortgage refers only to the document that states that the home can be sold in case of default. Under an assignment of mortgage, both documents are transferred to their new owner for servicing.

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