dcsimg
We research, you save.
Got Questions On Rates? (855) 610-2972

How can I find out who owns my mortgage?

By   |  Posted in Ask The Expert

Homeowners may think they know who owns their home loan, but finding out is a little more complicated than simply naming your loan servicer.

When you apply for a home loan with a mortgage banker or mortgage broker and go to settlement, you will typically sign mortgage loan papers that list the name of a bank or credit union. It would be natural to assume your mortgage loan is owned by the financial institution listed on your settlement statement. However, many home loans are sold individually to other mortgage lenders or in a package with other loans in a mortgage-backed security.

How to find out who owns your mortgage

Most homeowners do not necessarily need to know who owns their home loan until they have a problem, such as needing to renegotiate the loan terms for a modification, refinance or arrange a short sale. Under most circumstances, borrowers have a relationship with the mortgage servicer -- the institution that collects the monthly payments -- who may or may not be the owner of the loan. Some financial institutions keep mortgage loans within their own portfolio, while others sell the loan to other institutions or to investors.

The simplest step to take to determine who owns your mortgage loan is to contact your loan servicer. There should be a contact phone number on your mortgage statement or the lender's website. In some cases, the servicer will tell you who owns your loan, but sometimes the servicer may not know the name (or names) of the investor that owns your mortgage loan or is prohibited from giving out that information.

Fannie Mae and Freddie Mac own many mortgage loans, and each agency has a loan look-up function on its website.

If you are experiencing any difficulty making your mortgage payments or have other questions about your mortgage, you should start by contacting your loan servicer.

Michele Lerner contributed to this answer.

More help from HSH.com

  • Advantages of FHA mortgages in 2016

    FHA loans have become more affordable in 2015, thanks to a drop in the annual mortgage insurance premium that the Federal Housing Administration charges.
  • 10 metros where a home costs about $1,000/month

    HSH.com identifies 10 metro areas where you can afford the principal, interest, taxes and insurance payments on a median-priced home for only around $1,000 per month.
  • HSH.com on the latest move by the Federal Reserve

    The Federal Reserve concluded a meeting today with no change to the federal funds rate and no changes to other monetary policy tools.
  • Mortgage Rates Radar 09/13/2016: Despite Fed concern, mortgage rates holding steady

    HSH.com releases its latest Weekly Mortgage Rates Radar showing a slight increase in popular mortgage rates during the seven-day period ending September 13, as concerns that the Federal Reserve may make a move at next week's meeting have to buffeted the financial markets of late.  The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).
  • Mortgage Rates Radar 09/06/2016: Modest jobs report leaves rates flat

    HSH.com releases its latest Weekly Mortgage Rates Radar showing almost no change again in popular mortgage rates during the seven-day period ending September 6, as a fair employment report for August failed to provide conclusive evidence that a move by the Federal Reserve is forthcoming. The Weekly Mortgage Rates Radar reports the average rates and points offered by lenders for the two most popular types of mortgages, the conforming 30-year fixed-rate mortgage and the conforming 5/1 adjustable-rate mortgage (ARM).