Who really owns my mortgage?
Answer: Because mortgage loans are frequently sold, you may not know who really owns your mortgage loan. Often, the servicer you pay each month is not the owner. By law, if your mortgage loan is sold, the new owner is required to send you a notice within 30 days of the effective date of the transfer disclosing: 1) the name, address, and telephone number of the new owner; 2) the effective date of the transfer; and 3) whether the transfer in ownership is recorded in the public records.
If you are unsure who owns your mortgage loan, there are several ways to find the answer.
- Send a Request for Information (“RFI”) to your mortgage servicer. Your servicer is required to provide, to the best of their knowledge, the name, address, and telephone number of the owner of your loan.
- You may be able to look it up online. Many mortgages are owned by Fannie Mae and Freddie Mac. Both offer a mortgage look up tool on their website.
- You can look up your mortgage servicer and investor (i.e., owner) by searching the Mortgage Electronic Registration Systems (MERS) website if your Mortgage or Deed of Trust are registered with MERS; however, the information on the MERS system may be outdated.
- You can search your local land records for Assignments of your Mortgage or Deed of Trust, but many transfers are not recorded in the land records. Often, Assignments are made to the loan servicer, not to the owner.
- Your loan may be owned by a securitized Trust. You may need to contact a professional such as McDonnell Property Analytics to help you research your loan ownership.