Print

Print


Dear Bobbi
Here in HInesburg we have always recorded our assignments like
Milton. Note the margin of the margin and the card. It is my feeling
also that we are not required to trace a chain of events - that is
a legal responsibility - belonging to the legal profession.
Also, welcome aboard.
Mary Zuber
> From: Marshfield Town Clerk <[log in to unmask]>
> To: [log in to unmask]
> Subject:
> Date: Friday, May 14, 1999 4:30 PM
>
> Hello.
>
> This question is for Town Clerks.  I am still new at this, so I would
like
> to hear from other clerks about how they handle recording.  Recently we
> have been receiving dozens of mortgage assignments and discharges.  What
do
> you do if the assignment or discharge comes from a bank that you do not
> show as the owner of the mortgage?
>
> Example:  We have a mortgage from John Doe to Summit Financial and an
> assignment from Summit to Colonial Mortgage.  We have just received an
> assignment from Bank of New Hampshire (successor by merger to CRX Bank)
to
> People's Heritage Bank.  Since I show nothing transferring the mortgage
> from Colonial to either CRX or Bank of New Hampshire, what should I do?
I
> have been told to record whatever I am sent, but is it my responsibility
to
> check ownership?  Would you send the assignment back, or record it as is,
> or record it with a note that I have questions about it?
>
> Another example:  We have a mortgage from me to Summit, an assignment
from
> Summit to Peoples, an assignment from Peoples to Wells Fargo, and then
> another assignment from Peoples, this one to GMAC.  Finally, the
discharge
> came from Wells Fargo.  Shouldn't we have received an assignment from
Wells
> Fargo to GMAC?  And since we were making our payments to GMAC, is the
> discharge from Wells Fargo legal?  Am I the only one who has these
> situations?  Since this was my own mortgage, I know that Wells Fargo was
> purchased by GMAC, but there is no paper trail saying that in the Clerk's
> Office.
>
> A third example:  We have a mortgage from John Doe to the Small Business
> Administration, and a discharge from the Howard Bank, with nothing
showing
> a connection from the SBA to Howard Bank.
>
> I am also wondering how other clerks record assignments.  Do you make new
> index cards showing the various banks as grantor/grantee, or do you just
> note the assignments on the original cards?  I am assuming that you note
> the assignments in the margin of the original mortgage.
>
> Thanks for any input that you can give me!
>
> Bobbi Brimblecombe, Marshfield