The Mortgage Holder Code is user-defined, meaning you can enter any value you want and its meaning is assigned by your internal standards. Only one code should represent a specific mortgage company and you should use that code consistently throughout the system. For example, if the mortgage holder is Falmouth Savings Bank, you can assign FSB as the Mortgage Holder Code. Consequently, you should enter FSB as the Mortgage Holder Code on any other property whose mortgage holder is also Falmouth Savings Bank. This is useful when running the Mortgage Holder Report.
You can assign up to four mortgage holders to a Tax Account. Sometimes, only the first mortgage holder is used for selection and printing.
Where-Used:
Usually, the Assessing module assigns the Mortgage Holder Codes to a Tax Account. You can also update the codes during Tax Master Maintenance at the Mortgage Tab.
You can maintain the Mortgage Holder Code during Real Estate Lien Maintenance at the Lien Information Tab.
Mortgage Holder Code prints on the Mortgage Holder Report, the Real Estate Tax Bills and the Tax Master Maintenance Print Report.
Format: up to 3 characters
See also: Mortgage Number, Mortgage Book Number, and Mortgage Page Number