but a similar entity that has taken on all the related obligations. The successor in interest has taken the place of the original borrower, and now the language of the deed applies to the successor. This allows the title for the property to be moved to the successor in ...
Mortgage servicermeans the mortgagee or a person other than the mortgagee to whom a mortgagor or the mortgagor’s successor in interest is instructed by the mortgagee to send payments on a loan secured by the mortgage. A person transmitting a payoff statement for a mortgage is the mortgage ser...
Mortgage servicer means the mortgagee or a person other than the mortgagee to whom a mortgagor or the mortgagor’s successor in interest is instructed by the mortgagee to send payments on a loan secured by the mortgage. A person transmitting a payoff statement for a mortgage is the mortgage ...
1.a conveyance of an interest in property as security for the repayment of money borrowed. 2.the deed by which such a transaction is effected. 3.the rights conferred by it, or the state of the property conveyed. v.t. 4.to convey or place (property) under a mortgage. ...
(i) The servicer has confirmed the successor in interest's identity and ownership interest in the property; (ii) Unless the successor in interest assumes the mortgage loan obligation under State law, the successor in interest is not liable for the mortgage debt and cannot be required to use ...
be reached and retrieved from the recipient or recipient’s successor in interest by action of a bankruptcy court or a trustee in bankruptcy, whether such bankruptcy is voluntary or involuntary, and whether or not such funds were: initially transferred in good faith and for value; a “preference...
Borrowers signed a contract stating they'd pay their mortgages on time if we lent them the money and many didn't. If everybody just paid their damn mortgage, this economic downturn wouldn't have happened in the first place! Where I come from, if you don't pay back your debts, you...
(5) This objective was partially achieved in 1968 when the original Federal National Mortgage Corporation was split into two parts: Government National Mortgage Association, or Ginnie Mae, which remained a government agency, and a successor Fannie Mae (offic ially, still the Federal National ...
The UK was granted an extension to remain in the EU until 31 October, after Prime Minister Theresa May failed to get her divorce bill through Parliament. But it is unknown what timetable her successor as Conservative party leader and Prime Minister will pursue, after she resigns in June. ...
stamps and fees on each step of the securitization process, plus a way to obfuscate the real ownership and to essentially choose later who will be designated to be the “owner” of the mortgage rights — i.e., who will be said to own the mortgage note and thus be a successor to the...