Note Sale - Posted by Mitch

import · April 20, 2011, 9:06pm

Posted by Mitch on April 21, 2011 at 13:14:18:

Thanks for the info. I called this morning and got the 104.1 endorsement, it was basically as you said.

Another question, if you don’t mind: I’ve only done a couple of these resales, I usually keep the loans myself. I’m wondering if I should perform a formal escrow for the resale? So far I have the note buyer wire me the money and I then do all the docs, no trust account, no settlement statement.

import · April 20, 2011, 9:06pm

Note Sale - Posted by Mitch

Posted by Mitch on April 20, 2011 at 21:06:41:

I sold a note I owned. I endorsed the note, executed and recorded an assignment of deed of trust, and changed the loss payee on the fire insurance. Do I need to do anything with the title policy? Anything else to do?

Thanks

import · April 20, 2011, 10:45pm

Re: Note Sale - Posted by Rick, the Probate Guy

Posted by Rick, the Probate Guy on April 20, 2011 at 22:45:52:

I’d post this in the more appropriarte “cash flow” forum elsewhere on this site.

I think that your note buyer/assignee may want a title enforsement of the assignment, which I beliieve is still called a 104.1 endorsement. Usually costs about $150.00.

In future, let title handle the assignment recording.