Assignment verification reports

Assignment Verification Report is a comprehensive search of public records for all recorded assignments associated with a given mortgage or deed of trust. It provides a concise summary report highlighting any defects or breaks in the assignment chain, ensuring the enforceability and legal integrity of the mortgage.

What is an Assignment Verification Report?

An Assignment Verification Report (AVR) is a detailed analysis that establishes the ownership chain of each holder of the note and security instrument from the origination date forward. It verifies each recorded assignment to ensure that the chain of title is complete and accurate, identifying any potential issues that could affect the enforceability of the mortgage.

The Importance of Assignment Verification in Real Estate Transactions

Assignment verification is crucial in real estate transactions. Here are some key reasons why assignment verification is important:

Mitigate Legal Risks: A break or error in the assignment chain can lead to legal challenges in foreclosure proceedings, ownership transfers, or selling the mortgage in the secondary market.
Ensure Compliance: Verifies that all assignments are properly recorded, maintaining compliance with legal and regulatory requirements.
Protect Investments: Confirms the exact name of the last holder of the note and identifies any issues in the chain of ownership, safeguarding the interests of lenders, servicers, and investors.

What Information Does an Assignment Verification Report Include?

An AVR typically includes several essential components. The report provides:

Summary Page (Abstract Page): An overview of the assignment chain with recording information, listing each assignor and assignee involved.
Grading Page: An assessment based on any issues found during the review, such as breaks in the chain, missing assignments, or incorrect filings.
Comments on Mortgage Enforceability: Expert opinions on the enforceability of the mortgage based on the findings.
Document Copies: Copies of all relevant recorded documents referenced in the report.

The AVR provides a comprehensive package delivered in PDF format, ensuring all pertinent information is accessible and organized.

Step-by-Step: How to Request and Obtain an Assignment Verification Report

To request and obtain an AVR, follow these steps:

Contact Us: Reach out to DocSolutionUSA or ProTitleUSA via our website or customer service line.
Provide Details: Supply necessary information about the mortgage or deed of trust, such as property address, borrower name, and loan number.
Research Process: Our team of experienced researchers will search public county records to gather all required documents.
Report Compilation: We compile the AVR, including all findings, and deliver it to you in a comprehensive PDF package.

Ordering an AVR is streamlined to provide you with accurate and timely information to support your real estate transactions.

Nationwide Assignment Verification Report Services

Our AVR services are available nationwide, including U.S. territories such as Puerto Rico (PR), the Virgin Islands (VI), and Guam (GU). The report summary page maintains a consistent format regardless of the property's location, making it easy to review multiple reports across different regions.

For clients requiring bulk AVR orders, we offer customized solutions, including presenting data in an Excel dashboard format. This format includes the following information:

Lien Positions
Assignment Break Information
Last Assignee Verification

This approach streamlines the review process for large portfolios, saving time and enhancing decision-making efficiency.

Benefits of Using an Assignment Verification Report

Using an AVR offers several benefits:

Risk Mitigation: Identifies and addresses defects in the assignment chain, reducing legal risks.
Efficient Due Diligence: Facilitates a thorough review of the mortgage assignment history, essential for foreclosures, loan modifications, or secondary market transactions.
Peace of Mind: Provides confidence in the enforceability of the mortgage or deed of trust.

Who Should Use an Assignment Verification Report?

The following professionals can greatly benefit from an AVR:

Mortgage Servicers and Lenders: To verify ownership before initiating foreclosure proceedings.
Investors and Purchasers of Mortgage Loans: To ensure clear title and proper assignment history.
Attorneys and Legal Professionals: For due diligence in legal actions involving mortgage loans.
Title Companies and Settlement Agents: To confirm the chain of title for real estate transactions.

Secure your real estate transactions with confidence. Contact us today to order your Assignment Verification Report and ensure the integrity of your mortgage assignments.