Sentence examples for note underlying from inspiring English sources

But it does not own the note underlying a property.

One problem is ascertaining who actually owns the note underlying each home loan.

That would create a loss for the lender or investor holding the note underlying the property.

Foreclosures are supposed to occur only when lenders can prove they own the note underlying the property.

Courts in Ohio have recently dismissed cases where ownership of the note underlying the mortgage has not been proved by lenders seeking foreclosure.

According to court filings, Mr. Isaacs had relied on the bank's documentation that it said showed it held the note underlying the property in a trust.

That banks routinely transfer the notes underlying a property can make things cloudier still.

Mr. Lavalle warned Fannie years ago that MERS couldn't legally foreclose because it didn't actually own notes underlying properties.

If notes underlying even some of these mortgages were improperly assigned or lost, that will surely complicate pending legislation intended to allow bankruptcy judges to modify mortgage terms for troubled borrowers.

But lawyers who represent candidates for modifications say the programs are hobbled by the complexity of securitization pools that hold the loans, as well as uncertainty about who actually owns the notes underlying the mortgages.

More broadly, the revelations about the sloppy paperwork are emboldening homeowners and law enforcement officials in many states to question whether lenders rightfully hold the notes underlying foreclosed properties — further chilling the housing market.