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Updated about 6 years ago on . Most recent reply presented by

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Olga Fomenko
  • Washington, DC
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Collateral Assignment of Note and Mortgage

Olga Fomenko
  • Washington, DC
Posted

Doing my first lending deal and the borrowers attorney sent us the paperwork that doesn't have property address nor it mentions the title company that I'm instructed to wire money through. Can someone who has experience is these sort of deal or is an attorney tell me if these things are normally on the paperwork or they aren't? Seems weird to me but I do not know how these these documents supposed to look.

Thanks

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Ellis San Jose
  • Specialist
  • Westlake Village, CA
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Ellis San Jose
  • Specialist
  • Westlake Village, CA
Replied

There must be mention of what collateral the note is secured with, typically a legal description in the original note

If this is an assignment of an existing note, there should be a reference to the note that is being assigned.

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