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In Florida, an assignment of mortgage: Transfers the assignor's rights under the mortgage to the assignee. Permits the assignee to pursue the same remedies, including foreclosure, as the original lender. Generally retains priority of the mortgage that is assigned for the benefit of the assignee.
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.
An assignment of mortgage under Florida law used to assign and transfer a mortgage from one lender to another.
Assignment of Mortgage Endorsement: This endorsement assures that the insured mortgage has been duly assigned to the assignee named in the endorsement.
The purpose of the mortgage or deed of trust is to provide security for the loan that's evidenced by a promissory note. Loan Transfers. Banks often sell and buy mortgages from each other. An "assignment" is the document that is the legal record of this transfer from one mortgagee to another.
An assignment of mortgage is a legal term that refers to the transfer of the security instrument that underlies your mortgage loan ? aka your home. When a lender sells the mortgage on, an investor effectively buys the note, and the mortgage is assigned to them at this time.