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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 doesn't have to ask for permission to assign the mortgage but can do so whenever it wants to.

In a mortgage assignment, your original lender or servicer transfers your mortgage account to another loan servicer. When this occurs, the original mortgagee or lender's interests go to the next lender. Even if your mortgage gets transferred or assigned, your mortgage's terms should remain the same.

Does Fannie Mae accept electronic signatures on mortgage closing documents? Yes. Per the Selling Guide, we accept eSignatures on most documents used to originate or service a loan.

Loans closed through the remote online notarization process can include either wet-ink signed promissory Notes (i.e. non-eMortgages) or electronically signed Notes (i.e. eMortgages). Sellers can deliver loans with electronically signed Notes, only if they are approved to deliver eMortgages.

Electronic signatures are not permitted to be used in executing wills or codicils, contracts relating to the alienation of immovable property, bills of exchange such as cheques, and long-term agreements for immovable property, which are in excess of ten years.

Assignment by Participant Lender In the assignment and assumption agreement, the assigning lender sells and assigns to the assignee lender, and the assignee lender purchases and assumes all of the assignor lender's rights and obligations under the loan documents.

Simply put, electronically signed loan documents are legally just as valid and secure as a pen-and-paper signature.

An assignment of mortgage documents the transfer of a mortgage from an original lender or borrower to another person or entity. Lenders regularly sell mortgages to other lenders. Less often, a borrower transfers the mortgage to someone else who assumes the mortgage.

An assignment of mortgage gives the loan seller's rights under the mortgage, including the right to foreclose if the borrower doesn't make payments, to the new owner of the loan.