Property owners must be able to freely transfer property and buyers take title subject to any encumbrances of record (as they could before lender de-regulation in 1982) without title being fettered and sales inhibited by lender interference. Lenders should not be able to seize the opportunity on receipt of a request for a beneficiary statement to increase their portfolio yields by exacting assumption fees and modifying interest rates, payment schedules, due dates, etc. simply because the property is security for a mortgage.
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