How Do I Find Out Who Holds My Mortgage?

Knowing who owns your mortgage is not always simple. Your loan may have been sold, perhaps several times. And the company that you send your mortgage payments to (the servicer) might not own your mortgage. There are several reasons why you might need to know who holds your mortgage loan, or who services it. Here's how to figure out who holds your mortgage.

The first step in determining who owns your mortgage is identifying your mortgage servicer.

Understanding Mortgage Servicers

A mortgage servicer handles the day-to-day management of your loan. This is the company that (among other things):

• collects and processes your monthly mortgage payments
• tracks your account balance
• manages the escrow account, if you have one, and
• supervises the foreclosure process, if you are in foreclosure.

The servicer of your mortgage may be the same as the holder (owner) of your loan, but not always. Mortgage holders often retain a mortgage servicer—which may or may not be a lending institution—to manage the loan. If this is the case, the mortgage servicing company acts as an agent for the mortgage holder, but does not own the mortgage. (Learn more about mortgage servicers.)

Who Is Your Mortgage Servicer?

There are several different ways that you can find out the identity of your mortgage servicer.

• You can check your monthly mortgage billing statement. (Your mortgage servicer is the company that sends you the bill for your mortgage payment.)

• Look at your payment coupon book (if you have one). The servicer will be listed.

• Call the MERS Servicer Identification System toll-free at 888-679-6377 or visit the MERS website. (Your mortgage servicer’s identity will be listed in the MERS system if you have a MERS loan. Learn more about MERS and its role in mortgage transactions in Nolo’s article What is MERS?)

Understanding Mortgage Holders

A mortgage holder, more accurately called a “note holder” or simply the “holder”, is the owner of your loan. The holder has the right to enforce the loan agreement. The loan agreement consists of:

• a promissory note, and
• a mortgage (or deed of trust).

The holder of the note is the only party that has the legal right to collect the debt (and foreclose on the property) if you don't make payments.

Who Is Your Mortgage Holder?

There are several different ways that you can find out the identity of the holder.

• The easiest option is to call the mortgage servicer and ask who is the actual holder of the loan. (That’s why you first need to figure out who your servicer is.)

• You can also send a qualified written request (also called a request for information) to your servicer asking who owns the loan.

• If your loan is in the MERS system, you may be able to find out who owns your loan by calling MERS or running a check on the MERS website.

• Check the Fannie Mae and Freddie Mac loan-lookup tools online (many loans are sold to these government-sponsored enterprises) to find out if Fannie Mae or Freddie Mac owns your loan.

Reasons Why You May Need to Know the Indentity of the Servicer or Holder

The following examples are just a few scenarios where you’ll want to know who is the servicer or holder of your mortgage.

• If you need general information about your mortgage loan account (like the monthly payment amount, the next due date, or late fee information), you’ll have to call your mortgage servicer.

• If you have fallen behind in your mortgage payments and want to negotiate an alternative to foreclosure (such as a loan modification, short sale, or deed in lieu of foreclosure), you need to contact your mortgage servicer.

• If you are having trouble making your mortgage payments and want to apply for assistance under your state’s Hardest Hit Fund program (if there is one), you should contact your mortgage servicer to ensure it participates in the program. (Find out more about Hardest Hit Fund assistance.)

• If you are a homeowner in foreclosure, you’ll want to know the holder. If you think that the foreclosing party does not actually own your loan, you might have a defense to the foreclosure. (You’ll most likely need an attorney to help you review your ability to raise this kind of defense and argue it in court.)