### Question
What is the definition of effective date of transfer?


### Answer
The definition of **effective date of transfer** is as follows in *12 U.S.C. § 2605*:

> the date on which the mortgage payment of a borrower is first due to the transferee servicer of a mortgage loan pursuant to the assignment, sale, or transfer of the servicing of the mortgage loan

#### Citation:
  - *12 U.S.C. § 2605*
  - Heading: **CHAPTER 27-REAL ESTATE SETTLEMENT PROCEDURES**

