- Reconsignment is defined as that something which had been assigned is now reassigned to another person or organization.
When your mortgage was first assigned to Bank A, who then reassigned it to Bank B, and Bank B is now reassigning it to Bank C, this is an example of a reconsignment.
reconsignment definition by Webster's New World
- a consigning again or anew
- Commerce a change (made in transit) in the route, destination, or consignee as indicated in the original bill of lading