A promissory note is a promise to pay sometime in the future and is used as money and a Bank Asset. You can pay off many debts with several promissory notes.. Banks negotiate promissory notes every banking day in their normal course of business.
Banks sell and assign a promissory note after monetization and securitization to make money without risking a penny or money.. Banks bundle the promissory notes together in a trust and convert these promissory notes into stock or bond certificates to be sold on the open market to investors.
After a promissory note is converted into a certificate the promissory note is copied then destroyed as per SEC Law. If the promissory notes are not destroyed, the TRUST is taxable.
As you can see your mortgage promissory note is money and an asset to the bank. This website legally processes promissory note and promissory notes securities to pay off or discharge mortgage debts and all type of debt. See you there.