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An assignment of mortgage is a written document which serves as proof of transfer of a loan obligation from the original borrower to a third party. When a loan is sold in the secondary market, the bank is no longer the owner of the note and mortgage. However, the bank’s rights under the mortgage are not automatically assigned to the investors. In order to assign such rights, an assignment of mortgage is necessary, since it is a separate document from the loan document that secures the right to foreclose on the property if the loan is in default. Generally, a title search of the property is conducted to determine whether an assignment of mortgage has been recorded. If an assignment does exist, it may be a defense to delay your case and/or prevent foreclosure of your property.