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New Jersey Notice of Assignment of Mortgage

The Truth and lending act requires that borrowers be notified when their mortgage debt has been sold, transferred, or assigned to a new creditor. It is the responsibility of the new creditor to notify the borrower(s) within 30 days to avoid up to $2,000.00 in statutory damages, plus reasonable attorney's fees. Systematic violations can reach up $500,000.00

Section 404 of the Act amends Section 131 of "Truth in Lending Act" to add a new subsection (g) which provides that, in addition to other disclosures required by the TILA, not later than 30 days after the date on which a mortgage loan is sold or otherwise transferred or assigned to a third party, the creditor that is the new owner or assignee of the debt shall notify the borrower in writing of the transfer. The notice must include the identity, address and telephone number of the new creditor; the date of the transfer; how to reach an agent or party having authority to act on behalf of the new creditor; the location of the place where transfer of ownership of the debt is recorded; and any other relevant information regarding the new creditor.

For use in New Jersey only.

Deeds.com New Jersey Notice of Assignment of Mortgage Forms Have Been Updated as Recently as Friday March 26, 2021

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Barbara S. said: I had an issue due to the fact that I had many beneficiaries. I was and still am not sure how to handle this. We do have Adobe Pro and can modify the form, if needed. But I would like to talk to your organization for more information.

Reply from Staff: While we are unable to assist you specifically with completing the document we can note that this is addressed in the guide. Information that does not fit in the available space should be included in an exhibit page.


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Andrew H. said: Very efficient does what it says on the box.

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New Jersey Notice of Assignment of Mortgage Form