Possibly the biggest request in the mortgage servicing industry these days are for searches that report on the chain of assignments for our clients’ mortgages/deeds of trusts. Considering all the changes and activity in the mortgage industry over the past several years, (and then add in CFPB compliance issues), it is more important than ever for mortgage companies and servicers to know for sure that they can produce all evidence required to show that they own or have the servicing rights to that note.
Important - Not All Assignment Verification Reports are Created Equal
Much of it depends on the indexing system used by each courthouse. If it is grantor-grantee filing system, there’s a good chance that the abstractor will not be interested in searching through thousands and thousands of records to give you a true picture of that mortgage’s history. "No Assignments Found" when incorrectly reported in an AVR can spell D-I-S-A-S-T-E-R for your portfolio.
Assignment of Mortgage – Assignment of Deed of Trust
Blue Streak Docs takes the extra time to ensure that all indexes are thoroughly searched so that you get the correct information every time in your AVR Reports. We routinely are able to uncover missing assignments that our clients’ other vendors reported as not of record. Our AVRs include a complete report on each mortgage and every assignment up to county through date, noting any break in chains discovered. Copy images for all documents found on record are provided based on client requirements.
This thoroughness not only applies to our AVRs, but to all of our search reports including Title Searches. No matter what report you request, rest assured that Blue Streak Docs will provide all mortgage assignments to our clients when requested.
Mortgage Assignment – Supreme Importance
Not having every loan in your portfolios completely up to date with all the information from origination, through all the post-closing changes and modifications up to the present is a big risk in compliance. Make sure that all the mortgage assignments on your loans are well documented with all necessary copies and complete and accurate reporting. Let Blue Streak Docs take on this responsibility for you with our nationwide coverage and speedy results.
Find out more about what Blue Streak Docs can do for you: Try us out.