effective date of transfer
Defined in 1 place of the United States Code.
The term “effective date of transfer” means the date on which the mortgage payment of a borrower is first due to the transferee servicer of a mortgage loan pursuant to the assignment, sale, or transfer of the servicing of the mortgage loan.
Source
- 1994–present12 U.S.C. § 2605Banks and Banking · Servicing of mortgage loans and administration of escrow accounts · for purposes of this section