Who Owns My Mortgage Loan?

Who Owns My Mortgage Loan?
How to Lookup the Actual Owner of Your Mortgage Loan

Most people would be surprised to learn that it is likely that the bank or mortgage company they send their monthly mortgage payment to does not actually own their loan. That bank or mortgage company is very often just servicing the mortgage loan on behalf of the owner (referred to as the "Investor" in the mortgage industry). If the loan was conventional (i.e. 20% down including so-called 80/20 loans with a 1st and 2nd mortgage loan), or subprime, the Investor on the mortgage loan is probably another financial institution, or more likely Fannie Mae (Federal National Mortgage Association) or Freddie Mac (Federal Home Loan Mortgage Corporation). It is important to know who owns your mortgage loan since it impacts your loan modification, foreclosure prevention and short sale options. For example, currently Fannie Mae and Freddie Mac do not pursue deficiency balances (the amount of the mortgage loan remaining unpaid after the closing of a short sale). This is very important since it will allow borrowers to walk away after a short sale closing without having to worry about Fannie Mae or Freddie Mac pursuing them for the unpaid loan balance. Below are a few ways you can find out who owns your conventional or subprime loan (not every loan will be found):

• Mortgage Electronic Registration System (MERS®) Servicer Identification System - According to the MERS website, "MERS was created by the mortgage banking industry to streamline the mortgage process by using electronic commerce to eliminate paper. Our mission is to register every mortgage loan in the United States on the MERS® System. Beneficiaries of MERS include mortgage originators, servicers, warehouse lenders, wholesale lenders, retail lenders, document custodians, settlement agents, title companies, insurers, investors, county recorders and consumers. MERS acts as nominee in the county land records for the lender and servicer. Any loan registered on the MERS® System is inoculated against future assignments because MERS remains the nominal mortgagee no matter how many times servicing is traded. MERS as original mortgagee (MOM) is approved by Fannie Mae, Freddie Mac, Ginnie Mae, FHA and VA, California and Utah Housing Finance Agencies, as well as all of the major Wall Street rating agencies. "
• Fannie Mae Loan Lookup - Collectively, Fannie Mae and Freddie Mac own in excess of 50% of all the mortgage loans in the US so this is a good place to lookup your loan.
• Freddie Mac Loan Lookup - Collectively, Freddie Mac and Fannie Mae own in excess of 50% of all the mortgage loans in the US so this is a good place to lookup your loan.

If you have an FHA (Federal Housing Administration) mortgage loan, a Tennessee Housing Development Agency (THDA) mortgage loan, or a USDA Rural Development loan then you will need to contact your loan servicer with questions regarding a loan modification, foreclosure prevention, or a short sale. If your loan servicer is not responsive, or not helpful then I recommend that you contact the Tennessee Housing Development Agency (THDA) or the USDA Rural Development Housing & Community Facilities Programs, whichever is applicable.

Short Sale and Foreclosure Help and Assistance for Homeowners and Property Owners in Nashville and Middle Tennessee. If you are a Nashville Tennessee, Franklin Tennessee, Brentwood Tennessee, Nolensville Tennessee, Spring Hill Tennessee, Murfreesboro Tennessee, Smyrna Tennessee, La Vergne Tennessee, or Middle Tennessee homeowner, property owner, condo owner, real estate investor, home builder or real estate developer who cannot pay your mortgage payments (due to losing your job, having your income reduced, illness, health problems, adverse business conditions, slow sales, loss of investment property tenants, vacancy issues, lack of funds to complete the project, feuding business partners, etc.), know that you will not be able to pay your mortgage, have defaulted on your mortgage, are already in foreclosure, or owe more than your home is worth, please contact me to discuss your options including a loan modification and a short sale (a real estate short sale occurs when the sale proceeds are not sufficient to pay off all the mortgages and liens on the property/home). I am a Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR, Expert and Real Estate Investor. I primarily help sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments located in Middle Tennessee (Rutherford County TN, Williamson County TN, Davidson County TN, Robertson County TN, Maury County TN, Murfreesboro TN, Smyrna TN, La Vergne TN, Eagleville TN, Lascassas TN, Rockvale TN, Christiana TN, Brentwood TN, Franklin TN, Nashville TN, Belle Meade TN, Nolensville TN, Spring Hill TN, Gallatin TN, Springfield TN and Mt. Juliet TN). If you do need to short sell your home or property, or you need a quick sale due to being in foreclosure, you can request short sale and foreclosure help and assistance on my website at Get Short Sale and Foreclosure Help and Assistance from a Nashville Tennessee and Middle Tennessee Short Sale and Foreclosure REALTOR, Real Estate Expert and Real Estate Investor.

Nashville Tennessee and Middle Tennessee distressed real estate, short sale, pre-foreclosure (preforeclosure) and foreclosure REALTOR, Real Estate Expert and Real Estate Investor. Help for Middle TN sellers (homeowners, property owners, condo owners, owners of high end homes and properties (estate homes, luxury homes and executive homes), real estate investors, commercial real estate owners, home builders and real estate developers) of distressed real estate, short sales, pre-foreclosures, foreclosures, investment properties, failed new construction projects and struggling commercial real estate developments.

Jim McCormack Broker, REALTOR, e-PRO Real Estate Consultant Reliant Realty 256 Seaboard Ln Ste E-105 Franklin, TN 37067 TN Real Estate Broker License# 320030	Direct (615) 796-6898 - PREFERRED Office (615) 859-7150 Web www.JimTheRealEstateExpert.com Web www.JamesMcCormack.com Blog www.EndingForeclosures.com Blog www.HaltingForeclosures.com ActiveRain Jim McCormack on ActiveRain Zillow Jim McCormack on Zillow Trulia Jim McCormack on Trulia BrokerAgentSocial Jim McCormack on BrokerAgentSocial LinkedIn Jim McCormack on LinkedIn Google Jim McCormack on Google Twitter Jim McCormack on Twitter	Short Sale, Foreclosure, Distressed Real Estate and Investment Property Real Estate Service Areas in Middle Tennessee: Rutherford County Tennessee Real Estate Williamson County Tennessee Real Estate Davidson County Tennessee Real Estate Maury County Tennessee Real Estate Robertson County Tennessee Real Estate Antioch TN Foreclosures and Short Sales Bell Buckle TN Foreclosures and Short Sales Belle Meade TN Foreclosures and Short Sales Brentwood TN Foreclosures and Short Sales Chapel Hill TN Foreclosures and Short Sales Christiana TN Foreclosures and Short Sales Columbia TN Foreclosures and Short Sales Eagleville TN Foreclosures and Short Sales Franklin TN Foreclosures and Short Sales Gallatin TN Foreclosures and Short Sales Goodlettsville TN Foreclosures and Short Sales Hendersonville TN Foreclosures and Short Sales Hermitage TN Foreclosures and Short Sales Joelton TN Foreclosures and Short Sales Kingston Springs TN Foreclosures and Short Sales La Vergne TN (LaVergne TN) Foreclosures and Short Sales Lascassas TN Foreclosures and Short Sales Lebanon TN Foreclosures and Short Sales Madison TN Foreclosures and Short Sales Manchester TN Foreclosures and Short Sales Mc Minnville TN (McMinnville TN) Foreclosures and Short Sales Mount Juliet TN Foreclosures and Short Sales Murfreesboro TN Foreclosures and Short Sales Nashville TN Foreclosures and Short Sales Nolensville TN Foreclosures and Short Sales Ridgetop TN Foreclosures and Short Sales Rockvale TN Foreclosures and Short Sales Shelbyville TN Foreclosures and Short Sales Smithville TN Foreclosures and Short Sales Smyrna TN Foreclosures and Short Sales Spring Hill TN Foreclosures and Short Sales Springfield TN Foreclosures and Short Sales Thompsons Station TN Foreclosures and Short Sales Tullahoma TN Foreclosures and Short Sales Unionville TN Foreclosures and Short Sales White House TN Foreclosures and Short Sales