Just curious, when you have a confirmed successor in interest (SII) do you change the change name on the account to the SII or use some sort of naming convention like Jane Doe, SII to John Doe, 123 SII Address?

If they are assuming the existing debt, then you would need to do this through an assumption agreement. Contact your legal counsel.

Right, but if they just want periodic statements, etc. Do you change the name?

The statement should be going to the representative of the estate until the decision is made on whether the SII is going to assume the existing loan or refinance.

Question about an assumption agreement - for mortgage debt, I thought the RESPA SII rules say we can't require the SII to assume the debt? My understanding is once we have a confirmed SII, we change the name for servicing, but can't require the SII to sign any agreement to become the named debtor?

You can't - that is correct. The SII is treated as a borrower as far as all disclosures and protections under Reg. Z and X are concerned. They cannot be held personally liable for the debt. However, the estate will remain liable for the debt and unless someone steps up to the plate (assumes the current loan, pays off the house through a refinance or the SII sells the house) the estate will remain liable for the debt. I am not aware of too many estate executors that are going to want to keep the estate open for the remaining 25 years on the mortgage. But you cannot force them into any specific action as far as assuming personal liability. It is just usually the normal course of action to settle the estate.

I did notice what I said above and if the SII executed your acknowledgment form, they would be entitled to receive copies of the monthly statements or otherwise they would still be able to request information on the loan.

Randy, thank you! I have been going round and round on this - and I understand we can't make the beneficiary takeover the loan, but I didn't understand that the estate is still on the hook, that helps immensely!