Who Owns My Mortgage Loan?

There is a substantial difference between the owner of your mortgage loan and the manager of your mortgage loan. Find out exactly who your loan can be a daunting task. Just because you make the monthly mortgage payment to a particular creditor does not automatically suggest are the owner of the mortgage loan. A creditor who collects your monthly payment may simply be the operator, while the beneficial owner may be bought or exchanged for your individual mortgage loans on Wall Street. All is not lost, however. In order to find out who is the holder of the mortgage loan is, you must first identify who is your manager. Mortgage Electronic Registration System (MERS) is an automated system that controls the owners of a loan and note how it was bought, sold or traded among investors. MERS also checks that the services of mortgage loans for these investors. MERS, however, not disclose to people that the investor may be, but will make available to the manager and their contact information. Servicer is the company that handles mortgage routine tasks associated with your loan. Some of the functions of the servicer provides include: • Answering Questions borrower • Accounting for Principal and the amount of interest • Escrowing for property tax and insurance payments risk • Collecting loan payments • remitting loan payments • Provide counseling Delinquent borrowers • Supervision Processes and Foreclosure Property Dispositions to determine who was serving a mortgage, you can call the MERS 888-679-6377 or visit their website online www.mersinc.org. Once you have this information, the operator should then be able to let you know the identity of the owner of your loan.