Warning

Info

Warning

Info

Warning

Info

LSDefine

Simple English definitions for legal terms

mortgage certificate

Read a random definition: retorna brevium

A quick definition of mortgage certificate:

A mortgage certificate is a piece of paper that shows you own a part of a mortgage. A mortgage is a loan you take out to buy a house. When you buy a mortgage certificate, you are buying a piece of that loan. It's like buying a slice of a pizza instead of the whole thing.

A more thorough explanation:

MORTGAGE CERTIFICATE

A mortgage certificate is a legal document that proves partial ownership of a mortgage.

For example, if a bank issues a mortgage for a property worth $100,000, they may sell parts of that mortgage to investors. The investors will receive a mortgage certificate that proves their partial ownership of the mortgage. This certificate will include information such as the amount of the mortgage, the interest rate, and the payment schedule.

Another example is if a homeowner wants to refinance their mortgage. The new lender may require a mortgage certificate from the previous lender to prove the amount of the outstanding mortgage.

The examples illustrate how a mortgage certificate is used to prove ownership of a mortgage. It is a legal document that provides important information about the mortgage, such as the amount owed and the payment schedule. This information is important for investors and lenders to make informed decisions about buying or refinancing mortgages.

mortgage banker | mortgage clause

Warning

Info

General

General chat about the legal profession.
main_chatroom
👍 Chat vibe: 0 👎
Help us make LSD better!
Tell us what's important to you
THATS SO FUNNY
i cant i would go crazy
JumpySubsequentDolphin
20:50
i need to know who decided to do that.
JumpySubsequentDolphin
20:50
omg im on a plane weeeee
the devil
youre on a plane??? LSD made the mile high club??
20:50
yo splitterus are you in school already
20:50
it says ur c/o 2027
JumpySubsequentDolphin
20:51
@SplitterusClitterus: HAHAH yes
ur user is hilarioussss and no i just graduated this may and am now applying ---also im out of messages so ill take a lil
20:52
roger dat. see u in heck
im back, r u applying this cycle too
JumpySubsequentDolphin
21:32
this child fell asleep on me
JumpySubsequentDolphin
21:32
im so uncomfortable
just push him off the entire seat
JumpySubsequentDolphin
21:34
LMAOOOO
JumpySubsequentDolphin
21:35
no he’s literally like 8 and he fully just put his head on my bicep and slept
JumpySubsequentDolphin
21:35
he has since moved
22:12
@SplitterusClitterus: me yesterday
gulc baby pls text me back... i miss you ...... :(
22:23
i just went into a discord vc and yelled "YALL I JUST GOT INTO J.M. SCHOOL OF LAW"
22:24
people were getting excited :sob:
22:25
then someone was like "what does jm stand for" and i was like .. well
AHHAHAHAHAHAHHAHAHAHAHAHAH
@JumpySubsequentDolphin: wait this is so cute, also where r u going
JOE MBIDEN
JumpySubsequentDolphin
22:39
@splitty Oregon!
oh yay for what thats so random
JumpySubsequentDolphin
22:45
haha my brother and sister in law live there
so cutie oregon is beatiful
LSD+ is ad-free, with DMs, discounts, case briefs & more.