Posted by Sharon S. Young on 10/10/06 6:56pm
Msg #151510

Corporation Assignment DOT

Can anyone with more escrow experience than me tell me what the Cor. Assn. DOT is for? I know that we do not notarize it in a loan signing, but I would like to know what it is in case a borrower ever asks me. Thanks!

Reply by Rebecca/CA on 10/10/06 7:07pm
Msg #151512

Here is a link to an explination of what it is used for so maybe this will help you.

http://www.thestonemountaingroup.com/residential-mortgage.htm

Reply by TitleGalCA on 10/10/06 7:26pm
Msg #151517

In a nutshell, the deed of trust is "assigned" (hence the title) or sold to another lender by the first lender. The terms and conditions of the original deed of trust stay intact (via the note) but the holder, or beneficiary of the deed of trust, are assigned to another entity.