How do you know who owns your mortgage?

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I called the loan company, I make my mortgage payments, I asked if I could refinance. They said no, because I do not qualify under the new guidelines. I asked why they said that I belonged to mortgage investors, non-banks, Freddie or Frannie, etc. My question was, can you please send me the name and address Owner of my laenu.Nad said no, they only take the loan process. What the heck is going on here, who owns the loan? How do I know? Thank you to everyone for answering.

  1. Reply
    February 3, 2011 at 2:08 pm

    Whether you refinance depends on the original loan contract (some loans charge a penalty) and on whether a new lender will lend to you.

    If you can find a new lender, then check your original loan contract for any language about a prepayment or refinance penalty.

    If they mention Fannie or Freddie, what they are probably referring to is the fact that the entity (fanny or freddie), who guaranteed your first loan (for a price), will not guarantee a new loan unless it meets certain conditions. If you can now get a loan without government guarantee, then this doesn’t matter.

    If you talk to a mortgage broker about a refinance, the broker will find out all the info for you.

  2. Reply
    Caveat Emptor
    February 3, 2011 at 3:08 pm

    Do you mean loan modification (that’s not the same as refinancing)? It is not true that you “cannot refinance.” If the existing lender say no, go see another lender. Knowing who owns the loan (usually its an institutional investor) will not help you.

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