Lester Freeman
As a homeowner, there are several reasons you may need to know who backs your mortgage. Finding out who owns your mortgage isn't always straightforward, as loans are frequently bought and sold in the mortgage industry. The first step in determining who owns or backs your mortgage is identifying your loan servicer, which you can do by checking your monthly mortgage billing statement or payment coupon book. If you have a Mortgage Electronic Registration System (MERS) loan, you can call MERS or check the MERS website. You can also send a qualified written request (QWR) to your servicer asking who owns or guarantees your mortgage loan.
| Characteristics | Values |
|---|---|
| Finding out who owns or backs your mortgage | Identify your loan servicer |
| Determining the loan servicer | Check your monthly mortgage billing statement or coupon book |
| Determining the loan servicer if it's a MERS loan | Call MERS at 888-679-6377 or check the MERS website |
| Determining the loan owner | Check the Fannie Mae and Freddie Mac lookup tools online |
| Determining the loan owner if it's an RHS-guaranteed loan | Ask the servicer or check your closing documents |
| Determining the loan owner if it's an FHA-insured loan | Look for an FHA case number on your mortgage contract or call your servicer or HUD's National Servicing Center at 877-622-8525 |
| Determining the loan owner if it's a VA-guaranteed loan | Check for specific language in the note and mortgage that identifies it as a VA loan |
| Determining the loan owner if it's a USDA loan | Check if your mortgage was directly extended by the USDA's Rural Housing Service (RHS) |
What You'll Learn
Identify your loan servicer
Identifying your loan servicer is the first step in determining who owns or backs your mortgage. The servicer might be the same company as the loan holder, but not always. Here are some ways to identify your loan servicer:
Check your monthly mortgage billing statement
Your servicer is the company that sends you the bill for payment. The monthly mortgage statement will also have the telephone number and mailing address of the servicer. You can also look at your payment coupon book if you have one. The servicer will be listed there.
Check the MERS website
If you have a Mortgage Electronic Registration System (MERS) loan, you can find out the name of your servicer by calling MERS at 888-679-6377 or checking the MERS website. If you don't know if you have a MERS loan, you can also find this information on the MERS website.
Contact your servicer
If you already know who your servicer is, you can call them and ask who holds your loan. You can also ask who backs it. You can also send a Qualified Written Request (QWR) or a request for information under the Real Estate Settlement Procedures Act (RESPA) to your servicer, asking who owns or guarantees your mortgage loan. Under federal law, the servicer must respond, typically within 30 days, telling you who owns the mortgage.
Check your loan paperwork
You might be able to find out who backs your mortgage loan by reviewing your loan paperwork. For instance, look for an FHA case number on your mortgage contract. If you find one, you have an FHA-insured loan. A VA-guaranteed loan will contain specific language in the note and mortgage that identifies it as a VA loan. Fees paid to the VA will be shown in the closing documents.
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Check your monthly mortgage statement
Your monthly mortgage statement is a valuable source of information about your home loan. It can help you keep track of how quickly you are paying off your loan, and it can also alert you to any updated information, such as changes to your payment amount or who you should make your payments to.
The first step in determining who owns or backs your mortgage is to identify your loan servicer. The servicer might be the same company as the loan holder, but not always. Your loan servicer is the company that handles loan-processing tasks like collecting payments, dispersing escrowed property tax and homeowners' insurance payments, and managing the loss mitigation process if you fall behind in payments. Your monthly mortgage statement should include the servicer's contact information, including their phone number and mailing address. If you have a Mortgage Electronic Registration System (MERS) loan, you can find out the name of your servicer by calling MERS or checking the MERS website.
Once you have identified your loan servicer, you can contact them to ask who owns your loan. You can send them a letter, officially called a request for information under the Real Estate Settlement Procedures Act (RESPA). By law, your servicer is obligated to provide you with the name, address, and telephone number of the owner of your loan.
It is important to note that your mortgage loan may have been sold or the servicing rights changed since you took it out with the original lender. Federal law requires that you be notified in writing of any assignment, sale, or transfer of the servicing of the mortgage loan. You will also receive a notice within 30 days from the new loan owner if the mortgage is sold.
In addition to checking your monthly mortgage statement, you can also try using online lookup tools provided by Fannie Mae and Freddie Mac to find out if they own your loan. Many mortgages are owned by these government-sponsored enterprises. You can also review your loan paperwork for an FHA case number or specific language indicating a VA-guaranteed loan.
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Use online lookup tools
There are several online lookup tools that can help you find out who owns or backs your mortgage. Firstly, you need to determine your loan servicer. The servicer might be the same company as the loan holder, but not always. Your servicer is the company that sends you a bill for payment. You can find this information on your monthly mortgage billing statement or payment coupon book. If you have a Mortgage Electronic Registration System (MERS) loan, you can find out the name of your servicer by calling MERS or checking the MERS website.
Once you have determined your loan servicer, you can use the following online tools to find out who owns or backs your mortgage:
- Fannie Mae lookup tool: Check the Fannie Mae lookup tool online to find out if Fannie Mae owns your loan. Many loans are sold to this government-sponsored enterprise.
- Freddie Mac lookup tool: Check the Freddie Mac loan-lookup tool to find out if Freddie Mac owns your loan. Many loans are sold to Freddie Mac.
- RHS-guaranteed loan: If you have an RHS-guaranteed loan, you can check your closing documents from when you took out the loan. You can also visit the USDA Rural Development website for more information.
- FHA-insured loans: Look for an FHA case number on your mortgage contract. Loans sometimes lose their FHA-insured status, so if you have questions about your loan's status, call your servicer or HUD's National Servicing Center at 877-622-8525. You can also check your billing statement to see if you pay a mortgage insurance premium (MIP).
- VA-guaranteed loans: A VA-guaranteed loan contains specific language in the note and mortgage that identifies it as a VA loan. Fees paid to the VA will be shown in the closing documents.
It is important to note that the company you send your mortgage payments to might not be the loan owner. Loans are frequently bought and sold in the mortgage industry, and your loan may have been sold multiple times since you took it out.
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Contact your servicer
Contacting your servicer is the first step in determining who owns or backs your mortgage. The servicer might be the same company as the loan holder, but not always. Your servicer is the company that handles loan-processing tasks like collecting payments, dispersing escrowed property tax and homeowners’ insurance payments, and managing the loss mitigation process if you fall behind in payments.
There are several ways to identify your loan servicer. The easiest option is to call the servicer and ask who holds your loan and who backs it. You can find the number for your mortgage servicer on your monthly mortgage billing statement or coupon book. If you have a Mortgage Electronic Registration System (MERS) loan, you can find out the name of your servicer by calling MERS at 888-679-6377 or checking the MERS website.
If you are having difficulty paying your mortgage on time, your servicer should be your first call for assistance. Their telephone number and mailing address should be listed on your monthly statement. You can also send a Qualified Written Request (QWR) or a request for information to your mortgage servicer asking for information on the owner of your mortgage loan. Under federal law, the servicer must respond, typically within 30 days, telling you who owns the mortgage.
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Review your loan paperwork
Reviewing your loan paperwork is a good first step to finding out who backs your mortgage. This is because mortgages are often sold to other companies or investors, and your loan could have been sold multiple times since you took it out with the original lender. Therefore, the company you send your mortgage payments to might not be the loan owner.
Your loan paperwork should include your monthly mortgage statement, which usually includes information about your loan servicer and the company that collects your payments. It can also provide details about the current owner of your mortgage. Your billing statement will also indicate if you pay a mortgage insurance premium (MIP), which is what the Federal Housing Administration (FHA) calls its mortgage insurance. If you're paying MIP, then you have an FHA-insured loan.
You can also review your closing documents, including the promissory note and deed of trust. These documents may include information about the original lender and any subsequent transfers of ownership. If you have a VA-guaranteed loan, there will be specific language in the note and mortgage that identifies it as a VA loan, and you should see fees paid to the Veterans Administration (VA) in your loan closing documents. Similarly, if you have a USDA loan, you should know this already as these are mortgages directly extended by the USDA's Rural Housing Service (RHS).
You can also check the HUD-1 Settlement Statement and attachments to the note, and you can get more information about these types of loans on the USDA Rural Development website.
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Frequently asked questions
The first step in determining who owns or backs your mortgage is identifying your loan servicer. The servicer might be the same company as the loan holder, but not always. You can find out who your loan servicer is by checking your monthly mortgage billing statement.
A mortgage servicer is an entity that processes and handles loan tasks. They are the company that sends you the bill for payment.
You might be able to find out who backs your mortgage loan by reviewing your loan paperwork. FHA-insured loans, for example, will have an FHA case number on your mortgage contract. You can also contact your loan servicer and ask who backs your loan.
The mortgage owner, also referred to as the mortgage holder or note holder, is the entity that owns your loan. They have the legal right to enforce the loan agreement and are the only party that has the right to collect the debt or foreclose on the property if the borrower does not make their mortgage payments.
Mortgage guarantors are entities like the Federal Housing Administration (FHA), the United States Department of Agriculture (USDA), or the Department of Veterans Affairs (VA). These entities guarantee mortgage owners that they will get paid in case a borrower defaults on their loan.
