Truth in Lending Act (TILA): Federal law that requires clear disclosure of lending terms and costs in mortgage transactions, ensuring transparency in the assignment process.
Real Estate Settlement Procedures Act (RESPA): Federal law governing real estate settlement processes, including requirements for disclosing mortgage assignments and transfers.
UCC Article 9: Uniform Commercial Code provisions governing secured transactions, including the transfer and assignment of security interests in property.
State Property Laws: State-specific regulations governing real property transfers, assignments, and recordings, varying by jurisdiction.
State Recording Requirements: Specific state mandates for how mortgage assignments must be recorded, including format, content, and filing procedures.
State Corporate Laws: Regulations governing corporate actions and authority to execute assignments, including requirements for corporate resolutions and officer signatures.
State Mortgage and Trust Deed Regulations: Specific state rules governing the assignment of mortgages and deeds of trust, including form requirements and legal prerequisites.
Recording Office Requirements: County and state-specific requirements for document formatting, margins, font size, and other technical specifications for recording.
Corporate Resolution Requirements: Documentation proving corporate authorization for the assignment, including board approval and officer authority.
Corporate Bylaws Compliance: Internal corporate governance rules that must be followed when executing assignments and other significant transactions.
State Notary Requirements: Rules governing notarization of assignments, including proper acknowledgment forms and notary certifications.
Chain of Title Requirements: Documentation requirements to establish and maintain proper chain of title in mortgage assignments.
Assignment Recording Priority Rules: Legal principles determining the priority of recorded assignments in relation to other recorded documents.
