Assignment of mortgage

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FLORIDA REAL ESTATE SALES ASSOCIATE COURSE

Residential Mortgages

Section 22 of 41

Sometimes, the loan itself moves from one person to another. This can happen between banks (Assignment) or between a buyer and seller.Assignment of MortgageLenders sell loans to each other all the time. When Bank A sells your loan to Bank B, they execute an "Assignment of Mortgage.” You generally don't control this. You just get a letter saying, "Send your check to the new guys."