Riders on legal documents become part of the legal document itself, just as Amendments become part of the Constitution, riders to insurance policies become part of the insurance contract, etc.  As to the question of who, if anyone, is harmed, the mortgagee would be because the contract was between the original mortgagor and the mortgagee, not some subsequent party to whom the mortgagor attempts to assign the mortgage.  There is no privity of contract.  Conceivably, the mortgage company could nullify the attempted assumption even if the alleged assuming party's credit was worthier than the original mortgagor.  At any rate, the mortgage company has reserved the right to bar assumption by means of the rider.

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