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Mortgage Assignment

Manalapan, NJ |
Filed under: Real estate

In going through some old documents I ran into my old mortgage that was paid off through a refi and the very 1st page was an Assignment of mortgage from Wells Fargo but the area whom it's supposed to be assigned to is left blank and the doc was never recorded. Is this document valid? Also, the mortgage has been assigned 3 times since the original. What happens to those assignments, if anything?

Attorney Answers 3

  1. It has been common in recent years for banks to sell or assign bundles of mortgage loans and sell them to other financial institutions. Unfortunately, many of those transactions were not properly completed. Some are missing signatures and some were never recorded. The newspapers are full of such stories.

    What is the status of the refi? Were those documents recorded? Hypothetically, I would imagine if a borrower went to refinance a loan, the proceeds of that refi would have made their way to the owner of the debt; and the lender providing the refi should then record its first priority lien.

    A thorough review of your mortgage and refinance documents are in order. Contact a real estate attorney quickly.

    Disclaimer: For a free consultation contact me directly at 973-519-0196 or If this answer was helpful, please mark it as helpful or as a best answer. Answering questions on does not create an attorney-client relationship. You are strongly encouraged to seek and retain your own counsel. Information and answers posted to this website are for general informational purposes only.

  2. It depends. If the mortgage lender was a member of MERS, then the assignment may have been handled internally within MERS and not recorded in the county clerks's office (the purpose of MERS was, among other things, to reduce bank costs by not having to pay for the filing of multiple assignments).

    If this answer was helpful, please mark it as helpful or as a best answer. This answer is for general education purposes only. It neither creates an attorney-client relationship nor provides legal guidance or advice. The answer is based on the limited information provided and the answer might be different had additional information been provided. You should consult an attorney.

  3. I would take all of your paperwork to a local real estate attorney to get an accurate answer. It might be worth a consultation to make sure that you get a proper answer. Good luck!

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