Who Owns My Mortgage

By Andre Plessis
Who Owns My Mortgage

Finding out who your mortgage holder is might not be as easy as it sounds. You should be able to call the phone number on your last mortgage statement or the number in your payment coupon book and contact your lender. More often than not, this merely puts you in touch with the servicer.

Mortgage Servicers: Their Responsibilities to You

A mortgage servicer is responsible for collecting your monthly loan payments and crediting your account. A servicer also handles your escrow account, if you have one.

In some cases, the servicer is prohibited from divulging the true identity of your lender. In other cases, the person you're dealing with has no idea who your lender is.

Borrowers have been calling their servicers and have not been able to get a straight answer as to who owns their loans.

To find out if your loan is owned by either Fannie or Freddie,you can visit:

http://loanlookup.fanniemae.com/loanlookup/

https://ww3.freddiemac.com/corporate/

Also try the following approach:

1. Call the phone number on your mortgage statement. This will put you in touch with the servicer who may also be the lender who owns your mortgage or at least be able to tell you the name of your lender.

2. If you have an FHA loan, contact FHA's National Servicing Center to determine who owns your mortgage:

(800) CALL- FHA / (800) 225- 5342

3. You can try to contact Fannie Mae. If they own the note, they may provide the identity of the investor: 1-800-7FANNIE (1-800-732-6643).

4. If the mortgage is listed as MOM or has a MIN (Mortgage Identification Number) assigned to it, you can search the MERS database by mortgage identification number (MIN), your name and social security number, or the property's address. Dial the toll-free MERS Servicer Identification System at 888-679-6377.

Mortgages are often sliced and repackaged into mortgage backed securities (MBS's) that are sold and traded on Wall Street. Many investors subscribe to an automated system called MERS (Mortgage Electronic Registration System) that keeps track of who owns the loan and note as it sometimes changes among investors, as well as who services it for that investor.

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"Andre Plessis" Author, Real Estate Advisor & Mortgage Planner

Andre Plessis

REALTOR® at Keller Williams® Realty
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This site was last updated 04/25/10