Trace loan and note holder!

8 Replies

Hi,  

Looking to see how to find my mortgage note holder. I was able to find on Fannie/Freddie who holds my mortgage. Obviously, I know where I am paying my mortgage monthly. However, I am not able to trace any further to see who holds my note.  "Produce the note" or note owner is a step that attorneys recommend, when if property is in foreclosure and therefore, I do not think I can use that step.  If I am wrong in that assumption, please let me know. 

If there is any other way to find my note holder, either through a paid service or not, please let me know. Appreciate advise/help. 

Thanks, 

Naveen. 

For what purpose?  If it's a Fannie or Freddie loan, They hold the note.....they buy loans they are involved with, they don't simply insure loans.  The "show the note" defense was a delusion that lasted for about 10 minutes, back when.

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Hi @Cody Cox

    Thanks. Will look into that. However it looks like MERS can only tell me who is the servicer. I already know the servicer.  Anything else, I should look for on MERS?

Thanks, 

Naveen. 

You can simply ask your servicer to disclose the current owner of your loan.  There is a very high chance your loan is simply held in a security and the current servicer acts on behalf of that organization for all bond holders.  

Fannie Mae and Freddie Mac do not hold loans in and of themselves.  They pool the loans into a trust and sell the interests off as securities.  So, when you say "I was able to find on Fannie/Freddie who holds my mortgage." what exactly do you mean?   Who did you see as the owner and how did you come about see it?  Those are two separate institutions and chances are the entity which has legal ownership of your loan also holds the note which will not bear either Fannie or Freddie's name in whole or in part.  

If you look at the public record of your subject property you will see any assignments of the mortgage or deed of trust which will tell you the legal owner of the loan.  You can look at public record for free via the web if the county is on line or via a report as Mike referenced above.  There are certain circumstances which a note will be separated from its legal owner but I don't think that really is going to help you here if we provide details of how and why that happens.

If the note was assigned to MERs, as Cody mentions there are two levels to see in MERs as the borrower.  One will show you the servicer and one will show you who the note has been endorsed to while MERs has been acting as the agent of all those MERs members/owners.  

Which brings us to....what is the point of this?  As Wayne mentioned the defense of "produce the note" is ill founded advice.  If you are facing foreclosure do not rely on such ideas.  Your note is probably not lost and if was a Lost Note Affidavit can resolve that issue for the mortgagee with ease.  Further, in most jurisdictions nowadays, the court or trustee will check legal standing to bring about a foreclosure meaning they will check before moving to the next step in the process.  

Hi,

   Thank you all for the points and all info shared.  Appreciate your detailed info @Dion DePaoli

Here is what I mean b Fannie/Freddie has my mortgage. Based on property address, when I look for loan details, it showed up on Frediie's site and not on Fannie's site, Now, I also went onto county office online and I do see where the mortgage assignment is mailed to ( i see that address). If whom it is mailed to is the note holder, then I think I got to know the company. Between- the note holder is not I am paying my monthly mortgage to and therefore they may be only a servicer. So as per all info I have now, looks like my bank sold it to Freddie's and they then sold it to lien holder where assignment is mailed to. Servicer is only doing the job for lien/note holder, and I assume they are not in the hierarchy of my mortgage/note ownership.  

By the way, at the end- there is nothing I am going to do with the info, but I am learning about how this whole thing works and how / where money flows.  Having that knowledge may be very useful. 

Thanks, 
Naveen. 

The mailing address on an AOM is typically just the return mailing address for the company who prepared the AOM.  That may or may not be the current owner of the loan.  The current owner of the loan is the last AOM recorded Assignee.  The Assignee is listed in the body of the AOM under the Assignor.