Assignment of Mortgage by Corporate Mortgage Holder - New Mexico 2025

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At closing, borrowers sign a document granting the original lender the right to assign the mortgage elsewhere. This means the original lender doesnt have to ask for permission to assign the mortgage but can do so whenever it wants to.
Assignment of Lien means the Assignment of Lien and Loan Documents, dated as of the date hereof, executed by Prior Lender, as assignor, and Lender, as assignee.
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.
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.
The Grantor is the seller (on deeds), or borrower (on mortgages). The Grantor is usually the one who signed the document.

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Understanding the practical implications of the Assignment of Mortgage is crucial for real estate businesses. Firstly, it allows lenders to manage their risk exposure effectively. By transferring mortgages to other parties, lenders can reduce their exposure to potential defaults and diversify their loan portfolios.
The assignor must agree to assign their rights and duties under the contract to the assignee. The assignee must agree to accept, or assume, those contractual rights and duties. The other party to the initial contract must consent to the transfer of rights and obligations to the assignee.

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