Updated over 2 years ago on . Most recent reply

New Servicer wants original Note????
Hi,
I'm being forced to change note servicer on my notes since my old servicer will no longer be licensed in the state where I have most of my notes (MI).
The Old servicer recommended West Star in Phoenix, and they seem to be OK.
In the process of transferring the notes, West Star requested I give them the original of the Note! This seems wrong to me. If something happens to that original, how do i show that I'm entitled to the payments? I of course have copies, but copies - even notarized ones - cannot be used to show ownership.
Has anyone in this group heard of servicing requiring the original of documents (CFD, Note, Assignments, etc.)?
I'm being forced to change note servicer on my notes since my old servicer will no longer be licensed in the state where I have most of my notes (MI).
The Old servicer recommended West Star in Phoenix, and they seem to be OK.
In the process of transferring the notes, West Star requested I give them the original of the Note! This seems wrong to me. If something happens to that original, how do i show that I'm entitled to the payments? I of course have copies, but copies - even notarized ones - cannot be used to show ownership.
Has anyone in this group heard of servicing requiring the original of documents (CFD, Note, Assignments, etc.)?
Most Popular Reply

@Guillermo Perez Vargas
I have never seen a servicer ask for the original note. A copy of the note and a certification noting where the original is stored is typically satisfactory
- Chris Seveney

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