Perfecting loan collateral requires an audit of all documents to guarantee accurate and complete data. A comprehensive doc review includes examinations of any relevant documents including:
1) Mortgage documents
2) Existing notes and executed riders
3) Certificate of mortgage insurance and/or guarantees
4) Assumption or modification agreements
5) Note Endorsement(s)/Allonge(s) and Mortgage Assignments
6) Determine if the Security Instrument is currently registered with MERS
7) Leasehold estate documentation, 8) settlement statements
9) Evaluate the Title Work and policies, and
10) Condominium or cooperative documentation.
Each borrower is different from the next. Facilitating a customized review of all loan terms and documentation based on each borrower’s unique characteristics ensures protection for the lender should the borrower default on the loan.
We help our clients by confirm that the property pledged as a security covers the debt. For example, real estate securing a mortgage, collateral can be repossessed if the loan is not repaid.