I asked my mortgage loan servicer who held my mortgage and they told me it was a secret investor. what?

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What is a secret or silent investor? At first , the loan servicng company, Homeq, told me the name of a mortgage company who held my mortgage; when I called this company they said that the did not have my loan. How can I find out this information.

  1. Reply
    Dale H
    April 29, 2011 at 11:09 pm

    Why do you care who owns the loan? The servicer is called the servicer for a reason. The handle all aspects of the loan until it is paid off. The investor who bought the loan only receives pass through payments. It could be Deutschbank or someone else, but the don’t provide any kind of service on the accounts that make up the pools of mortgages that they buy.

    Maybe if I knew what you were after I could give you some kind of advice, but to try and find out who the investor is seems pointless.

  2. Reply
    Tim F
    April 30, 2011 at 12:05 am

    Your lawyer handles the transfer of money between the buyer and seller, I’m sure you had to provide your lawyers information to your broker when you purchased your home. I would give your lawyer a call, if they don’t know then they can tell you if you are able to get the information from your broker.

  3. Reply
    Christopher B
    April 30, 2011 at 12:45 am

    You are on a wild goose chase. The owner of the loan matters little when compared to the terms on your loan. Loans can get passed around like hot potatoes, and have often in the past. However, you terms will never change as long as you don’t sign a new agreement, and you live up to the terms of the original agreement.

  4. Reply
    April 30, 2011 at 1:11 am

    I know it sounds harsh but who owns your mortgage is really none of your business. You signed a contract in which you pledged to make monthly payments to whomever holds the mortgage note.

    The owner(s) of the mortgage can sell and re-sell the mortgage each and every day if that’s what they want to do. Whether it sells or doesn’t sell, you’re still on the hook to make your monthly mortgage payments to the mortgage company (who is the mortgage SERVICER; not necessarily the OWNER of the loan). The mortgage servicer operates on behalf of the owner(s) of the loan in all of its dealings with you. As far as you’re concerned, the mortgage company (the servicer) may as well be the owner of the loan.

    If you’ve lost your copy of the mortgage documents, then your mortgage company should be able to provide you with a copy of the mortgage note (which contains the terms of the loan, etc.). That’s all the proof they need that you need to pay off your loan.

    Regarding who owns your loan, it could literally be hundreds of people. It is very likely that your loan was “pooled” with many other loans and sold to investors (who are the owners of the loan). An “issuer” may take a big pool of loans and issue Mortgage-Backed Securities (MBSs) and sell them to individual investors. If 100 investors own MBSs for the pool your loan is in, that means 100 people own your loan (they will each get approximately 1% of the monthly Principal & Interest that you pay).

    Again, regardless of who or how many “owners” (investors) your loan has is irrelevant to you as the borrower. There’s no getting out of your payment. You committed to it when you signed the loan documents. It sounds like you’re trying to pull a fast one. If I’m wrong, I apologize.

    Good luck!

  5. Reply
    April 30, 2011 at 1:36 am

    Check out http://www.mortgagefigure.com for lots of articles and information to answer your mortgage questions.

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