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Mortgages are assigned using a document called an assignment of mortgage. This legally transfers the original lender's interest in the loan to the new company. After doing this, the original lender will no longer receive the payments of principal and interest.

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.

Electronic mortgage closings, or eClosings, is the process when the majority of loan documents that require a customer's signature at the time of loan closing are sent electronically and signed with a digital signature.

It's safe to give a bank statement to a reputable mortgage company through encrypted methods of communications, such as a secure online portal requiring a password. A mortgage company will usually ask you for bank statements to ensure you have a consistent stream of income and to check your monthly expenses.

A secure way to send documents by email is to password-protect the document before sending it as an email attachment. To do this, you assign a unique and strong password to your document and then share the password with the email recipient separately through a secure channel (like a phone call or text message).

A Satisfaction of Mortgage Letter You'll receive satisfaction of mortgage letter from your lender once you finish repaying your home loan. The document verifies that you own the property and that any mortgage-related claims on it are now null and void.

A mortgage (or deed of trust). Most people who take out a loan to buy a home sign two primary documents: a mortgage (or deed of trust) and a promissory note.

You can throw away old mortgage statements, but proceed with caution, because in some cases you should keep old mortgage papers for a long time. For example: Keeping the promissory note, Closing Disclosure, deed of trust and proof of title insurance for the life of a loan is typically required.

It's safe to give a bank statement to a reputable mortgage company through encrypted methods of communications, such as a secure online portal requiring a password. A mortgage company will usually ask you for bank statements to ensure you have a consistent stream of income and to check your monthly expenses.