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Click ‘Get Form’ to open the Assignment of Mortgage in the editor.
Begin by filling in the 'Prepared by and after Recording Return to' section. Enter your name, firm/company, address, city, state, zip code, and phone number.
Next, provide the Assessor’s Property Tax Parcel/Account Number if applicable.
In the 'Name and Address of Assignor' section, input the details of the Assignor (the current mortgage holder).
Fill in the 'Name and Address of Assignee' with the information for the new mortgage holder.
Complete the mortgage details including Date of Mortgage, Mortgagor(s), Mortgagee, and filing information such as Book and Page numbers.
Specify the property description as outlined in the original mortgage document.
Indicate the amount secured by this assignment in dollars.
Finally, have an authorized representative sign and date the document. Ensure that it is notarized as required.
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To do this, your lender must use an assignment of mortgage document. This document ensures the loan is legally transferred to the new owner. Its common for mortgage lenders to sell the mortgages to other lenders. Most lenders assign the mortgages they originate to other lenders or mortgage buyers.
Who can assign a mortgage?
To complete the transfer of rights, the lender (assignor) records the assignment of the mortgage with the local registry office, specifying the new holder (assignee) of the mortgage.
How to record an assignment of a mortgage?
The initial lender or financial organization that gave the borrower the mortgage loan is often the assignor. Assignee: The assignee is the party receiving the mortgage assignment. This could be another lender or financial institution that is buying the mortgage, often as part of a financial transaction.
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Nor is an assignment of the mortgage necessary. Maine, as a title theory state, has long recognized that mortgages and notes are separable. See, e.g., Johnson v
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