loan assignment
[loʊn əˈsaɪnmənt]
nounpl: loan assignments
cessão de empréstimo
1. The transfer of rights and obligations of a loan from one creditor (assignor) to another creditor (assignee), typically without the borrower's direct involvement in the transaction
The bank executed a loan assignment to transfer the mortgage to an investment firm.
O banco realizou uma cessão de empréstimo para transferir a hipoteca para uma empresa de investimentos.
2. A legal document that formally transfers the lender's interest in a loan to a third party
The loan assignment agreement specified all terms and conditions of the transfer.
O contrato de cessão de empréstimo especificou todos os termos e condições da transferência.
3. In banking and finance, the sale or transfer of loan portfolios between financial institutions
Multiple loan assignments occurred when the smaller bank merged with the larger corporation.
Múltiplas cessões de empréstimo ocorreram quando o banco menor se fundiu com a corporação maior.
Loan assignment is a crucial practice in the U.S. and Brazilian financial systems, particularly in mortgage banking and secondary loan markets. In Brazil, the practice is regulated by the Central Bank (Banco Central do Brasil) and is essential for capital market operations. The terminology is more formal in legal and financial documents, with 'cessão de empréstimo' being the standard technical term used by banks, lawyers, and financial regulators.
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