Wyoming Assignment of Mortgage

Wyoming Assignment of Mortgage Image
Select County Where the Property is Located

Use this form to assign all rights from a previously recorded mortgage to another entity/assignee. This is frequently done when a mortgage has been sold. (The county clerk shall not record any document until the address of the grantee, mortgagee or assignee of the mortgagee is furnished to the county clerk) (WS 34-1-119)

Current Borrowers must be notified of the assignment. Notification consists of contact information of the new creditor, recording dates, Wisconsin recording numbers, changes in loan, etc. Included are "Assignment of Mortgage Forms".

(The recording of the assignment of a mortgage, shall not in itself, be deemed notice of such assignment to the mortgagor, his heirs or personal representatives, so as to invalidate any payment made by them or either of them to the mortgagee.) (WY, 34-1-128. Recorded 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.

(Wyoming AOM Package includes form, guidelines, and completed example)
For use in Wyoming only.

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