How Do I Know Who Owns My Mortgage?

First Heritage Mortgage | July 2, 2020

As a homeowner, there are several reasons you may need to know who owns, backs, or services your mortgage loan. Finding out who owns your mortgage isn’t always straightforward. Throughout the life of your mortgage, your loan may have been sold multiple times, and the company you currently send your mortgage payments to every month may not necessarily be the owner of the mortgage. 

Continue reading to learn how you can find out who owns your mortgage and why you may find this information helpful. 

What Is the Difference Between Mortgage Servicers, Owners, and Guarantors?

When searching to finding out who owns your mortgage, it’s essential to understand the difference between a mortgage servicer, owner, and guarantor. Though they all play an important part in the mortgage process, they each have their own distinct roles.

Mortgage Servicer

A mortgage servicer is an entity that processes and handles loan tasks. While in some instances, your mortgage servicer may be the same company that owns your mortgage, this is not always the case. Mortgage servicers handle mortgage tasks such as:

  • Collecting payments
  • Dispersing escrowed property tax and homeowner’s insurance payments
  • Managing the loss mitigation process

Mortgage Owner

The mortgage owner, also referred to the mortgage holder or note holder, is the entity that owns your loan. They have the legal right to enforce the loan agreement, which consists of a promissory note and a security interest or deed of trust. The mortgage owner is the only party that has the right to collect the debt or foreclose on the property if a borrower does not make their mortgage payments.

Mortgage Guarantor

Mortgage guarantors are entities like the Federal Housing Administration (FHA), the United States Department of Agriculture (USDA), or the Department of Veterans Affairs (VA). Also known as mortgage backers, these entities guarantee mortgage owners that they will get paid in case a borrower defaults on their loan. Guarantors cannot claim assets purchased by borrowers.

Why It’s Important to Know Who Owns Your Mortgage

One of the major requirements for receiving mortgage forbearance under the CARES Act is that your home loan is owned by Fannie Mae or Freddie Mac. If it isn’t, you may still be eligible for mortgage relief if your loan is guaranteed by the FHA, VA, or USDA.

Other reasons you may need to know who services, owns, or backs your mortgage include:

  • You’re seeking basic information about your loan account, like the amount of your monthly payment, when your next payment is due, or information on late fees that you owe — contact your loan servicer.
  • You’ve fallen behind on your payments and want to discuss alternatives to foreclosure — contact your loan servicer first.
  • You’re having trouble making monthly mortgage payments and want to take advantage of mortgage relief programs like payment deferral or forbearance — contact the owner of your mortgage.
  • You’re interested in learning more about other loss mitigation options available to you – these options vary based on the entity that backs your loan.

How to Find Out Who Owns Your Mortgage

In many cases, the first step to finding out who owns your mortgage is to contact your servicer. Your mortgage servicer is required to provide you, to the best of their knowledge, the name, address, and telephone number of the owner of your loan.

Below are ways you can take action and find out who owns your mortgage:

Search online resources.

Call your mortgage servicer.

  • Check your monthly mortgage statements to find the phone number for your servicer.
  • If they are not the same company that owns your mortgage, you can ask them to share what they know about who does own it.

Send a written request.

Reach Out for Help

It can be helpful to find out who owns, backs, or services your mortgage for numerous reasons. From online tools to written requests and everything in between, the path you take depends on your unique situation. If you have questions about how to find out who owns your mortgage loan, we’re always here to help.

Visit Our Fannie Mae and Freddie Mac Lookup Tools Page.

or

Contact One of Our Loan Officers Today!

The included content is intended for informational purposes only and should not be relied upon as professional advice. Additional terms and conditions apply. Not all applicants will qualify. Consult with a finance professional for tax advice or a mortgage professional to address your mortgage questions or concerns. This is an advertisement. Prepared 6/27/2020.