Assignment of Mortgage

Definition: An assignment of mortgage transfers a lender's interest in the mortgage to another party.

Example

Lender A transfers its mortgage interest to Lender B as part of a loan transfer.

Keep the distinction clear

This does not convey the homeowner's property to a buyer. Rights in the promissory note, mortgage assignment, and servicing transfer are related but distinct matters.

Related terms

Assignment · Mortgagee · Loan Servicing

Keep studying

Mortgages: Borrower, Lender, Ownership, and Key Clauses

References: Florida Statutes 701.01: assignment of mortgages

Pronunciation (US): uh-SYN-muhnt uhv MOR-gij (capitals show stress)

Pronunciation reference: Merriam-Webster