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Roger
Roger, Lawyer
Category: Real Estate Law
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How do I identify the "owner" of my mortgage note? The servicer

Customer Question

How do I identify the "owner" of my mortgage note? The servicer is chase, was wamu, but chase says they are the "investor". That seems unlikely since wamu supposedly securitized almost all of the loans they orginated right after closing.
Thanks,
court
Submitted: 4 years ago.
Category: Real Estate Law
Expert:  Roger replied 4 years ago.
Hi - my name is XXXXX XXXXX I'm a Real Estate litigation attorney here to assist you.

Do you remember who the loan was originally with?
Customer: replied 4 years ago.

My Loan was originated with Wamu on 4-8-05. They serviced my loan until Chase bought wamu in '08.

Expert:  Roger replied 4 years ago.
The simplest thing to do is check the land records of your county to see who the owner of your loan is. The land records will track the original lender and then will note each transfer or assignment of the loan from its inception to date.

The land records clerk can help you determine the current owner.
Roger and 2 other Real Estate Law Specialists are ready to help you
Customer: replied 4 years ago.

The land records only reflect the mortgage, deed of trust and promissory note originally signed at closing with wamu.

No additions, changes or assignments have been recorded since. I have both the closing documents and have obtained the filed documents with the county. They are the same, but wamu no longer exists and by wamu's own reports- 95% of their subprime loans were securitized. I am looking for that owner of my note since wamu can't be the owner and chase could only be the owner if they bought the whole trust which owns my note. Very unlikely.

The reason I requested information on how to find the owner of my note is that my QWR (qualified written report) to Chase had resulted only in historical documents and subquent requests garner only redundant information. Chase indicates they are the investor and the servicer but that would be impossible if the note were securitized. If the note is not securitized, Chase would have supplied a copy of an assigned note and would have filed a updated mortgage with the county.

Chase simply stating that they are the investor without proving how they became so in due course leaves me with either a potential of a clouded title on my property or the possiblity that I am paying the wrong entity with my monthly payments.

The secinfo site does not show my note being securitized, fannie may and freddie mac sites don't claim ownership of my loan and the Mers system does not have any record of my loan.

Thanks for your help

Court

Expert:  Roger replied 4 years ago.
The information is exactly correct. This is the way you legally find out who owns the note. If there is no proof in the land records of an assignment, the company that bought out WAMU would own the note. You certainly have the right to demand an accounting from the servicer, and if they won't voluntarily give this information to you, you shoukd contact your state department of banking and finance and the consumer fraud division of your state attorney general's office for assistance to resolve this matter
Expert:  Roger replied 4 years ago.
The information is exactly correct. This is the way you legally find out who owns the note. If there is no proof in the land records of an assignment, the company that bought out WAMU would own the note. You certainly have the right to demand an accounting from the servicer, and if they won't voluntarily give this information to you, you should contact your state department of banking and finance and the consumer fraud division of your state attorney general's office for assistance to resolve this matter

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