satisfaction of mortgage


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satisfaction of mortgage

The process of making a notation in the public records that a mortgage debt has been paid in full and is no longer a lien upon the described real estate.When paying off a loan, one should make sure the lender records the satisfaction information. Failure to do so could result in later title problems for the owner as he or she attempts to hurriedly obtain the satisfaction in time for a closing.It can also subject the lender to a cause of action for slander of title.

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The increase in net income in 2002 was a result of the recognition of a gain on satisfaction of mortgage loans of $252,000 and the differences in the amounts recognized for deferred income tax benefits in each of the quarters ended June 30.
The decrease for the nine months ended September 30, 2000 was primarily the result of lower gains on satisfaction of mortgage loans due to fewer property sales.
The decrease for both periods was primarily the result of lower gains on satisfaction of mortgage loans, due to fewer property sales, as well as, lower interest income on mortgage loans in the period due to a reduction in the total number of loans held.
The decreased income for the three months ended March 31, 2000 was primarily the result of not recognizing any gains on satisfaction of mortgage loans, as well as transaction and other fees from partnerships whose properties were sold.
The increased operating income was primarily due to increased management fees and gains on satisfaction of mortgage loans.
The increased operating income for the nine months ended September 30, 1999 was primarily the result of gains on satisfaction of mortgage loans in 1999.
The increased net income for the nine months ended September 30, 1999 was primarily the result of gains on satisfaction of mortgage loans in 1999, as well as larger extraordinary gains on the settlements of indebtedness in 1999 as compared to the corresponding 1998 period.
The increased operating income for both periods was primarily the result of gains on satisfaction of mortgage loans in 1999.
State legislatures were active across the nation on mortgage issues in 1996, passing dozens of laws that affect the licensing of mortgage lenders and brokers; permissible loan fees; required disclosures; telemarketing solicitation; new mortgage products (including reverse mortgages and biweekly payment loans); and a variety of servicing issues, including escrow maintenance, PMI cancellation, satisfaction of mortgages and foreclosure.
The reduced operating loss was primarily due to the result of increased recognition of interest and rental income, gains on satisfaction of mortgages due to the re-evaluation of certain assets, and a reduction in operating expenses and accrued interest with respect to its redeemable notes.
The reduced losses were primarily due to increased recognition of interest and rental income and gains on satisfaction of mortgages primarily as a result of the re-evaluation of certain assets, and a reduction in operating expenses and accrued interest expense on the Company's redeemable notes.