Workouts Without the Original Mortgage

[Mark Scarola]

Hi. I just recently purchased a small note pool and the collateral file on one particular note appears to be missing a few things. Specifically it's missing:

1. The original note. There is a recorded copy, but no original.
2. The allonge chain is incomplete.
3. There is no payment history
4. The 1003 loan application

I'm trying to understand how much of a problem this may become. If I have the original note, but not the original mortgage, does that mean I can only go after the homeowner on a personal level without the leverage of possible foreclosure? What about the other missing items. How big of a deal is it that they're missing?

Thank you in advance.