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This document informs borrowers about the transfer of servicing rights of their loan to a new servicer, including details about contacting the new servicer and rights under RESPA.
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How to fill out notice of assignment sale
How to fill out NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS
01
Obtain the NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS form.
02
Fill in your name and contact information in the designated section.
03
Provide the legal description of the property associated with the servicing rights.
04
Specify the date of the assignment, sale, or transfer.
05
Include details about the new servicer or entity to whom the rights are being transferred.
06
Sign and date the form to certify the information is correct.
07
Make copies of the completed form for your records.
08
Send the completed form to all relevant parties, including the existing servicer and the new servicer.
Who needs NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS?
01
Lenders who are transferring their servicing rights.
02
Servicers that are taking over the management of loans.
03
Borrowers who have had their loan servicing transferred.
04
Investors and stakeholders involved in the mortgage servicing industry.
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What is NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS?
The NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS is a formal notification provided to borrowers or relevant parties indicating that the servicing rights of a mortgage or loan are being assigned, sold, or transferred to another entity.
Who is required to file NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS?
The entity or company that is transferring the servicing rights is required to file the NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS.
How to fill out NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS?
To fill out the NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS, include details like the original servicer's information, the new servicer's information, the loan number, the effective date of the transfer, and any relevant contact information for both parties.
What is the purpose of NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS?
The purpose of the NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS is to inform borrowers of changes in who is managing their loan servicing and to ensure that borrowers know where to direct their payments and inquiries.
What information must be reported on NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS?
The NOTICE OF ASSIGNMENT, SALE OR TRANSFER OF SERVICING RIGHTS must report information including the name and address of the current servicer, the name and address of the new servicer, the loan number, the date the transfer is effective, and any additional instructions for the borrower.
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