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  • Obligor/Obligee Lien Chart: Note (Non Negotiable) (Un Secured) Lien Maker Not Applicable Obligor Payor Obligee Payee

    Загружено:

    A. Campbell
    40 просмотров4 страницы
    The document outlines the transfer of ownership and security interests for a negotiable promissory note secured by a mortgage. It shows that with each negotiation of the note, there is an indorser who transfers the note to an indorsee, and an assignor who transfers the security interest to an assignee. This process continues as the note is transferred from the original lender, through intermediaries like banks and investment vehicles, ultimately to a trust. For the security interest to remain attached to the note, the chain of assignments must be continuous and properly recorded at each transfer.

    Исходное описание:

    Want to know how it works in Lien states?

    Оригинальное название

    For Lien States

    Авторское право

    © Attribution Non-Commercial (BY-NC)

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    The document outlines the transfer of ownership and security interests for a negotiable promissory note secured by a mortgage. It shows that with each negotiation of the note, there is an indorser who transfers the note to an indorsee, and an assignor who transfers the security interest to an assignee. This process continues as the note is transferred from the original lender, through intermediaries like banks and investment vehicles, ultimately to a trust. For the security interest to remain attached to the note, the chain of assignments must be continuous and properly recorded at each transfer.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    40 просмотров4 страницы

    Obligor/Obligee Lien Chart: Note (Non Negotiable) (Un Secured) Lien Maker Not Applicable Obligor Payor Obligee Payee

    Загружено:

    A. Campbell
    The document outlines the transfer of ownership and security interests for a negotiable promissory note secured by a mortgage. It shows that with each negotiation of the note, there is an indorser who transfers the note to an indorsee, and an assignor who transfers the security interest to an assignee. This process continues as the note is transferred from the original lender, through intermediaries like banks and investment vehicles, ultimately to a trust. For the security interest to remain attached to the note, the chain of assignments must be continuous and properly recorded at each transfer.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 4

    Obligor/Obligee Lien Chart

    ******************************************************************************* Note (NonNegotiable)(UnSecured) Lien Maker NotApplicable Obligor Payor Obligee Payee ******************************************************************************* ******************************************************************************* Note (NonNegotiable)(Secured) Lien Maker Grantor Obligor EquitableTitleHolder Payor Obligee Grantee Payee Beneficiary SecuredParty (LienAttachment/TemporaryPerfection) (PermanentPerfection FilingPublicRecords) ******************************************************************************* ******************************************************************************* SecuredNegotiableInstrument(ForResale) Note (Negotiable)(Secured) Lien Maker Grantor(GR1) Obligor (EquitableTitleHolder) Payor Pre1stNegotiationofNote(SecuredNegotiableInstrument) Obligee(OB1) Grantee(GE1) Payee(P1) Grantor(GR2) Indorser(IR1) Beneficiary SecuredParty(SP1) (PerfectionPublicRecords) Assignor(AS1)

    Obligor/Obligee Lien Chart


    Post1stNegotiationofNote(SecuredNegotiableInstrument) Obligee(OB2) Grantee(GE2) Payee(P2) Grantor(GR3) Indorsee(IE1) Beneficiary (Indorser1toIndorsee1)(Obligee1toObligee2) SecuredParty(SP2)

    IR1>IE1/AS1>AE1/OB1>OB2 Assignee(AE1) Indorser2(IR3) Assignor(AS1)toAssignee(AE1) Post2ndNegotiationofNote(SecuredNegotiableInstrument) Obligee(OB3) Grantee(GE3) Payee(P3) Grantor(GR4) Indorsee(IE2) Beneficiary (Indorser2toIndorsee2)(Obligee2toObligee3) SecuredParty(SP3)

    (PerfectionPublicRecords) Assignor(AS2)

    IR2>IE2/AS2>AE2/OB2>OB3

    (PerfectionPublicRecords)

    Assignor(AS2)toAssignee(AE2) Indorser3(IR3) Post3rdNegotiationofNote(SecuredNegotiableInstrument) Obligee(OB4) Grantee(GE4) Payee(P4) Grantor(GR5) Indorsee(IE3) Beneficiary (Indorser3toIndorsee3)(Obligee3toObligee4) SecuredParty(SP4)

    Assignor(AS3) Assignee(AE2)

    (PerfectionPublicRecords)

    IR3>IE3/AS3>AE3/OB3>OB4 Indorser4(IR4)

    2

    Assignor(AS4) Assignee(AE3)
    Assignor(AS3)toAssignee(AE3)

    Obligor/Obligee Lien Chart


    ******************************************************************************* ******************************************************************************* SecuredNegotiableInstrument(ForResale) Note (Negotiable)(Secured) Lien Maker(Homeowner) Grantor Obligor(Homeowner) (Homeowner>Lender) Payor(Homeowner) Pre1stNegotiationofNote(SecuredNegotiableInstrument) Obligee(BankA) Grantee(BankA) Payee(BankA) Grantor(BankA) Indorser(BankA) Beneficiary(BankA) SecuredParty(BankA) (LienAttachment/TemporaryPerfection) (PermanentPerfection FilingPublicRecords) Assignor(BankA) Post1stNegotiationofNote(SecuredNegotiableInstrument) WhereasBankB=InvestmentVehicleAggregator Obligee(BankB) Grantee(BankB)** Payee(BankB) Grantor(**)BankB Indorsee(BankB) Beneficiary(**)BankB SecuredParty(**)BankB Assignor(BankB)** Assignee(BankB)**
    Bank A-Seller-Note as Indorser to Bank B-Subsequent Noteholder as Indorsee Bank A as Assignor of Lien to Bank B as Assignee of Lien ** ** (Lien Perfection Required of Record before Becoming a Secured Party) (Memorialization of Note Negotiation)

    Bank Name Substitution

    Wherein Fannie/Freddie is players, depending upon lending arrangements, Fannie/Freddie could be represented as Bank B to Bank X.
    3

    Obligor/Obligee Lien Chart


    Post2ndNegotiationofNote(SecuredNegotiableInstrument) WhereasBankC=InvestmentVehicleDepositor Obligee(BankC) Grantee(BankC)** Payee(BankC) Grantor(**)BankC Indorsee(BankC) Beneficiary(**)BankC SecuredParty(**)BankC Assignor(BankC)** Assignee(BankC)**
    Bank B-Seller-Note as Indorser to Bank C-Subsequent Noteholder as Indorsee Bank B as Assignor of Lien to Bank C as Assignee of Lien ** ** (Lien Perfection Required of Record before Becoming a Secured Party) (Memorialization of Note Negotiation)

    Post3rdNegotiationofNote(SecuredNegotiableInstrument) WhereasBankD=InvestmentVehicleTrust Obligee(BankD) Grantee(BankD)** Payee(BankD) Grantor(**)BankD Indorsee(BankD) Beneficiary(**)BankD SecuredParty(**)BankD Assignor(BankD)** Assignee(BankD)**
    Bank C-Seller-Note as Indorser to Bank D-Subsequent Noteholder as Indorsee Bank C as Assignor of Lien to Bank D as Assignee of Lien ** ** (Lien Perfection Required of Record before Becoming a Secured Party) (Memorialization of Note Negotiation)

    Continuous Chain of Lien Perfection is required from Original Note Holder (HIDC) to a Subsequent Note Holder (HIDC) to show a Subsequent Party is a Secured Party of a Secured Negotiable Note of Record. Where there is a break in the chain of lien perfection being assigned and perfected in a subsequent note holders name, the lien would expire by operation of law and the note would become Unsecured. Where an Indorsee is noted as being in blank, assignment of lien perfection of record would be an impossibility. MERS as Nominee for Lender and Lenders Successor and Assigns would appear in the record only as an agent for an unidentified Indorsee Party. A properly perfected lien cannot be executed in the name of an incorrect party.

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