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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Roy Morgan research said that the bank ranks third out of the big four when measured on the satisfaction of mortgage customers, and the gap between the satisfaction levels of its home loan borrowers and its non-home loan customers is the largest among the big banks.
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.
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.