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Mortgage Assignment Agreement Template for United States

A Mortgage Assignment Agreement is a legal document used in the United States that transfers the rights, title, and interest in a mortgage from one party (assignor) to another (assignee). The document must comply with federal regulations including TILA and RESPA, as well as state-specific recording requirements. It includes detailed information about the original mortgage, property description, and terms of transfer, requiring proper execution and recording in the appropriate jurisdiction's property records.

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What is a Mortgage Assignment Agreement?

A Mortgage Assignment Agreement becomes necessary when a mortgage holder wishes to transfer their rights to another party. This commonly occurs in loan portfolio sales, securitizations, or bank mergers. The agreement must detail the original mortgage information, property description, and precise terms of the transfer. Under U.S. law, the document must comply with both federal regulations and state-specific requirements, including proper recording in county records. The agreement typically requires notarization and may need to be accompanied by notice to the borrower.

What sections should be included in a Mortgage Assignment Agreement?

1. Parties: Identifies assignor and assignee with full legal names and addresses

2. Background: Details of original mortgage, including date, parties, and property description

3. Definitions: Key terms used throughout the agreement including Mortgage, Property, Borrower, Original Lender, and Assignment Date

4. Assignment: Core provision transferring rights from assignor to assignee

5. Representations and Warranties: Assignor's statements about ownership and right to assign

6. Governing Law: Specifies applicable jurisdiction and law

7. Execution: Signature blocks and notarization requirements

What sections are optional to include in a Mortgage Assignment Agreement?

1. Purchase Price: Terms of payment for the assignment, including amount and payment method

2. Further Assurances: Commitment to execute additional documents if needed for effective assignment

3. Servicing Rights: Provisions regarding transfer or retention of mortgage servicing rights

What schedules should be included in a Mortgage Assignment Agreement?

1. Schedule A - Property Description: Legal description of the mortgaged property

2. Schedule B - Original Mortgage: Copy or details of the original mortgage being assigned

3. Schedule C - Recording Information: Details of original mortgage recording

4. Exhibit A - Notice to Borrower: Form of notice to be sent to borrower regarding assignment

Authors

Alex Denne

Head of Growth (Open Source Law) @ Genie AI | 3 x UCL-Certified in Contract Law & Drafting | 4+ Years Managing 1M+ Legal Documents

Jurisdiction

United States

Publisher

Genie AI

Document Type

Mortgage Agreement

Cost

Free to use

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