An Assignment Verification Report (AVR) is an extensive examination of publicly available county records to confirm the validity of mortgage assignments. This report thoroughly checks every assignment linked to a mortgage or deed of trust from its inception onward, clearly outlining any missing or inaccurate assignments. By verifying each transaction and transfer accurately, the AVR helps guarantee the legal soundness and enforceability of the mortgage agreement, ensuring the chain of ownership is uninterrupted and trustworthy.
The significance of assignment verification in real estate dealings cannot be overstated. A seemingly minor oversight in the assignment chain might cause serious complications later, especially during foreclosure, property sale, or refinancing.
Here are primary reasons assignment verification is essential:
Risk Management: Early detection of assignment errors prevents expensive legal disputes and litigation.
Legal and Regulatory Compliance: Ensures all assignments are documented correctly, aligning with applicable state and federal requirements.
Asset Protection: Confirms the identity of the current note holder, safeguarding lenders, mortgage servicers, and investors by clearly defining ownership rights.
A comprehensive AVR typically contains several critical components that offer clarity and detailed insights:
Abstract Summary: Clearly lists each assignment, including detailed assignor and assignee information and precise recording data.
Assessment & Grading: Provides a detailed review identifying potential issues like missing documents, incorrect entries, or breaks in assignment sequences.
Legal Insights: Expert evaluations on whether the assignment chain supports mortgage enforceability.
Document Compilation: Includes digital copies of all relevant assignment documents referenced, neatly organized within the report.
The final AVR is delivered electronically as a cohesive PDF document, making it convenient to analyze and utilize in transaction reviews.
| Error Type | Potential Impact | Recommended Action |
|---|---|---|
| Missing Assignment | Break in ownership chain; enforceability issues | File a corrective assignment to restore the chain |
| Incorrect Dates or Party Names | Document may be challenged or deemed invalid | Review public records and refile with corrected data |
| Assignment Out of Order | Ownership sequence is unclear or contradictory | Reconstruct the proper sequence and re-record if needed |
| Mismatch in County Records | Official records don’t align with actual transactions | Contact the recording office to resolve discrepancies |
| Duplicate Assignments | Confusion over current holder; legal conflicts may arise | Identify the valid record and nullify duplicates |
| Missing Notarization or Signatures | Assignment may be unenforceable or rejected by courts | Re-execute the document with proper notarization |
Ordering an AVR is straightforward and efficient:
Initial Contact: Get in touch via the company's online portal or customer support line.
Provide Loan Information: Submit necessary details such as property location, borrower's name, and mortgage or loan number.
In-depth Research: Expert analysts thoroughly search public records to assemble all relevant assignment documents.
Report Delivery: Receive your completed AVR in a detailed, user-friendly PDF, ready for immediate review and action.
Assignment Verification Reports from ProTitleUSA are available across all 50 states and U.S. territories, including Puerto Rico, the Virgin Islands, and Guam. Every AVR, regardless of geographic location, follows a standardized format, making multi-region portfolio assessments seamless.
For high-volume clients, customized bulk solutions are available, featuring Excel-based dashboards. These dashboards provide:
Lien position clarity
Detailed information on assignment gaps
Confirmation of current assignees
Such solutions significantly enhance decision-making efficiency, especially for large-scale mortgage portfolios.
Opting for a professional AVR brings clear advantages:
Preventative Risk Management: Early detection and rectification of assignment issues to avoid costly legal disputes.
Enhanced Due Diligence: Streamlines thorough investigations crucial for foreclosure processes, loan adjustments, and secondary mortgage markets.
Peace of Mind: Gives lenders, investors, and legal professionals assurance in the mortgage's enforceability.
Assignment Verification Reports are especially valuable for:
Mortgage Servicers and Lenders: Ensuring legal compliance before initiating foreclosure actions.
Mortgage Investors: Verifying accurate assignment chains before purchasing mortgage portfolios.
Attorneys and Legal Advisors: Conducting thorough due diligence in property-related legal proceedings.
Title Insurance Providers: Confirming clear and accurate assignment chains during property transactions.
Industry-leading mortgage experts, investors, and financial institutions consistently rely on ProTitleUSA for assignment verification due to their meticulous accuracy, extensive research capability, and rapid turnaround. ProTitleUSA’s reputation for excellence is built on a foundation of rigorous standards, state-of-the-art technology, and unparalleled customer support, setting the company apart as the trusted partner for securing mortgage integrity. When your mortgage transactions demand precision and reliability, ProTitleUSA’s Assignment Verification Reports deliver clarity, security, and peace of mind.