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

What's happening with home prices in the 100 largest metropolitan areas? See HSH's updated "Home Price Recovery Index" to find out!

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

  • 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.
  • Home price recovery index: Which metros have improved the most, least?

    Have home prices in your area fully recovered from the declines suffered during the Great Recession, or are they still struggling to make it back to the peaks they reached before the crisis?
  • How do I know refinancing will be affordable?

    After to determine the goal of your refinance, deciding whether that goal makes sense (or not), given your personal situation, depends on a combination of factors.
  • The salary you must earn to buy a home in 27 metros

    Here’s how much salary you would need to earn in order to afford the median-priced home in your city.
  • VA Funding Fee: 5 facts you need to know

    One slight drawback of securing a VA loan is that borrowers often have to pay a fee, known as the “VA Funding Fee.” Here are five facts you need to know about the VA Funding Fee and how it works.