Legal Description Vs Postal Address

[Have Laser-Will Travel]

Can anyone explain why lenders need to have the USPS street address to their liking? I imagine that they want it to match the title report but, to my thinking the legal description is the only one that matters. The subject address could change.

 

[Meandering]

Because the Tax Assessor is referencing the property by street address, so,

if it goes up for tax sale, the lender will know by finding it in a search?

If the taxes are escrowed as part of the mortgage, the street address helps to cross reference the taxes were paid?

It is easier to catalogue properties by mailing address, to be understandable to humans, than anything else?

Because banks hire people that don't know anything about real estate, but who, could find a street address?

Because Realtors use mailing addresses as the reference and that way they can find the property to do their BPO?

Because Google Earth uses street addresses?

911 uses street addresses?

 

[Dublin ohio]

CU is likely the reason if it is for Fannie/Freddie

 

[Peter LeQuire]

It's probably true that the USPS address isn't necessary for a lender to perfect its security interest in a property. But the USPS address is necessary for the day to day servicing of the mortgage.

FWIW, the requirement to provide a correct USPS (nee mailing) address precedes CU by a bunch.

 

[Have Laser-Will Travel]

Everyone is making sense. This property is a duplex so it has two addresses.

 

[Tom D]

deeds are recorded under address. where is that deed located, well, beginning at a point, and going north.