A mortgage deed refers to a deed accompanied by a mortgaged loan note.
Every mortgage deed involves two steps: a promissory note and a mortgage.
Therefore, assignment of note and mortgage happen simultaneously.
Mortgage assignments are beneficial to both home sellers as well as buyers.
A note has details like amount owed, term of loan, etc. The mortgage is the means through which a borrower pledges or mortgages property as security for money received.
The note and mortgage are two sides of the same coin and are inseparable.The investor third party is only concerned about reaping mortgage assignment profit from the mortgage assignment investing deal s/he has entered into and has no regard for the financial well being of the parties involved.Mortgage assignment, also called assignment of trustee's deed or assignment of deed of trustee, is the process of selling an existing mortgage to a third party.There are many real estate companies offering attractive assignment programs that benefit sellers and buyers alike.Using the benefits of such a home mortgage assignment program will help you sell your home quickly or buy a home without dealing with bank formalities.However, the bank’s rights under the mortgage are not automatically assigned to the investors.In order to assign such rights, an assignment of mortgage is necessary, since it is a separate document from the loan document that secures the right to foreclose on the property if the loan is in default.Generally, a title search of the property is conducted to determine whether an assignment of mortgage has been recorded.If an assignment does exist, it may be a defense to delay your case and/or prevent foreclosure of your property.An assignment of mortgage is a written document which serves as proof of transfer of a loan obligation from the original borrower to a third party.When a loan is sold in the secondary market, the bank is no longer the owner of the note and mortgage.