Hey everyone,
Sometimes, from a title clearing standpoint, an Ancient Mortgage Affidavit and/or Non-Demand Affidavit are prepared and signed at the closing to protect the interest of the title company.
Our company policy requires due diligence on all parties (broker, title co., underwriter, borrower, etc.) to attempt to locate the discharge. If one cannot be found, we ALL review the credit report and other documents which may show some sort of attempt to defraud or falsifications.
In other words, if/when an Ancient Mtg Aff or Non-Demand Aff is used, ALL bases have been covered, thus, leaving the final onus up to the borrowers notarized acknowledgment.
Hope this helps or is informative...JT
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