Dana Ortiz closes on a fixed-rate loan in March. Six months later she receives notice that the note has been transferred to another investor, who is now entitled to receive payments under the note. In mortgage terminology, who is that investor?
Correct Answer
C) The note holder because it is entitled to enforce the note
The person or entity entitled to receive payments and enforce the note is the note holder. The CFPB promissory note explainer specifically describes the lender or anyone who takes the note by transfer and is entitled to payments as the note holder.
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