satisfaction of mortgage


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satisfaction of mortgage

n. a document signed by a lender acknowledging that a mortgage has been fully paid. It must be recorded with the County Recorder (or Recorder of Deeds) to clear the title to the real property owned by the person who paid off the debt. (See: mortgage)

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Section B(8): Satisfaction of mortgage liability covers errors and omissions arising out of the insured's connection with the satisfaction of a mortgage on property in which the insured holds an insurable interest.
During the quarter ended March 31, 2009 gain on satisfaction of mortgage loans was $0, compared to $634,000 for the same period in 2008.
Examples of documents that can be prepared using TitleRight include Grant Deeds, Warranty Deeds, Quitclaim Deeds, Affidavit Terminating Joint Tenancy, Certificate of Incumbency, Deeds of Trust, Satisfaction of Mortgage and many others.
The primary reason was increased gains on satisfaction of mortgage loans, which contributed $999,000 ($.
05-Jan-06 Form 403a Declaration of Satisfaction of Mortgage or Charge
The primary reasons were increased gains on satisfaction of mortgage loans and increased residual interest income net of interest expense, which together contributed $317,000 ($.
02 diluted per share) of gains on satisfaction of mortgage loans.
The principal reason for the increase was $476,000 from gains on the satisfaction of mortgage loans.
After you've paid off the mortgage, the bank is obligated to record a satisfaction of mortgage.
The increase in income from continuing operations was primarily due to an increase in gains on satisfaction of mortgage loans and a decrease in interest expense on underlying loans due to principal amortization.
The increase was the result of the recognition of a gain on satisfaction of mortgage loans of $502,000 during the quarter ended June 30, 2004.