The recording officer shall enter of record and properly index all satisfaction pieces against the name of the mortgagee or last assignee, as each is indicated in the satisfaction piece, and the recording officer shall indicate the recording of the satisfaction piece by an accurate reference placed on the record of the instrument satisfied thereby, or when the mortgage so satisfied is transcribed or recorded in a manner which permits notations to be made on the margin thereof, the recording officer shall note such satisfaction on the margin of the recorded mortgage and shall refer in such notation to the volume and page of the record wherein the satisfaction piece is set forth in full.