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Full recourse obligations of the borrower under the loan documents. Mortgage instrument, as long as a new note is not required, even if the lender charges an additional fee for the conversion. 9.Under an assignment of loan, a lender (the assignor) assigns its rights relating to a loan agreement to a new lender (the assignee). 01 (Non-Recourse Mortgage Loan; Exceptions) of the Loan Agreement. A nonrecourse debt (loan) does not allow the lender to pursue anything other than the collateral. Is now a fairly common practice without regard to whether the borrower has a tax concern with a full recourse loan. Flavors of Nonrecourse. Be full recourse, limited recourse, capped, or non-recourse.
