Posted by Anonymous on 4/13/06 10:37am
Msg #113293

Question regarding split package

Are mortgage riders different than a rider to the note? Such as the Adjustable rate rider that's a rider to the note not a mortgage rider, right?

Reply by MB_AZ on 4/13/06 10:44am
Msg #113298

Now that I'm not anon will someone answer.....please!!! n/m

Reply by MB_AZ on 4/13/06 10:49am
Msg #113300

Re: Now that I'm not anon will someone answer.....please!!!

I would have helped if I read the first page of the rider. It says it shall be deemed to amend.....the Mtg, Deed etc.

Reply by Becca_FL on 4/13/06 11:09am
Msg #113310

Are mortgage riders different than a rider to the note? - Yes

Such as the Adjustable rate rider that's a rider to the note not a mortgage rider, right?

- Not quite. If the Note is adjustable you will have an adjustable rate Note AND an adjustable rate rider to the Mortgage. I have also seen adjustable rate riders to the Note as well, in addition to the adjustable rate rider to the Mortgage.

Hope this helps.

Reply by Colonel_IA on 4/13/06 11:14am
Msg #113312

Questions like this can be answered quickly by calling TC or

lender instead of waiting for someone to post an answer.

Reply by MB_AZ on 4/13/06 11:20am
Msg #113316

Colonel - Sorry didn't mean to post a SA question

between all the OT posts.

Reply by Paul_IL on 4/13/06 11:59am
Msg #113332

Re: Questions like this can be answered quickly by calling TC or

With such brilliant answers you should promote yourself to General.

Reply by MB_AZ on 4/13/06 11:15am
Msg #113313

Thanks Becca. So when the Title Co asks for the original mortgage and any riders- I should not include the Adjustable rate rider since it's a rider to the Adjustable rate note, is that right?

Reply by Charm_AL on 4/13/06 11:19am
Msg #113315

I don't get why you are asking this? Why are you making it your job to decide what to include or not? You just give them back everything they sent.

Reply by MB_AZ on 4/13/06 11:23am
Msg #113319

Charm-AL - I accepted a split signing

Instructions are to send certain docs to title and others to lender. I am clear on all the other docs but when it said Mortgage (and any riders) I just thought someone on this forum could clearify it for me.

Reply by Charm_AL on 4/13/06 11:27am
Msg #113320

Re: Charm-AL - I accepted a split signing

got cha,,,send the riders to the mort and the riders to the note are different, don't you love these splits?

Reply by Becca_FL on 4/13/06 11:31am
Msg #113321

No...

The adjustable rate rider is attached and recorded with the mortgage. To keep it real simple, anything that says "Rider"you should consider a rider to the mortgage unless it says rider to note or allonge.

Reply by MB_AZ on 4/13/06 11:36am
Msg #113322

Re: Becca_FL Thanks. I really do understand now! n/m

Reply by Charm_AL on 4/13/06 11:39am
Msg #113325

Re: No...opps!...more coffee!... n/m

Reply by SharonMN on 4/13/06 11:22am
Msg #113318

It should say right in the first paragraph of the rider something like, "This rider supplements the [name of document] dated _______."

Reply by Ndwa on 4/13/06 12:01pm
Msg #113333

A standard DOT/Mortgage is written under the assumption of a conventional fixed rate loan on a single family dwelling, and etc. If there is anything outside of the ordinary then a rider is attached (ie. adj rate, prepay penalty, 2nd home, PUD, etc). There is a section in the mortgage with check boxes that indicate if a certain rider is attached.


This is not by any mean of legal advices, one should seek answer or advice from credible sources.

Reply by PAW on 4/13/06 5:12pm
Msg #113431

Typically, RIDERS are part of the Mortgage/DOT. ADDENDUM are part of the Note. This is not to say that some packages won't have a rider attached to the note and an addendum attached to the mortgage.