How do I know if my mortgage is freedy mac or fanny mae?
How do I know if my mortgage is with freddy mac or fanny mae? Is there a inventory of Banks? is it not the bank, but the type of mortgage? I need to know.
Answers:
To you, the "end user", the answer is "neither". Your mortgage agreement is between you and your bank. If they flog it off and you're to pay someone else, they'll permit you know.
If you can explain a situation why you feel you need to know consequently those details might help get a better answer.
Short answer - there is no approach to know for sure. Long answer is longer, but same conclusion.
I find it odd that we cannot know who "owns" our mortgages, but that has be the response I have been competent to get. I don't think this is right, but here ya go.
You pay your monthly mortgage donation to a servicer or possibly to the entity who "owns" the loan. No way to find out until you go into foreclosure.
It is not the type of mortgage, to some extent the entity that bought the loan after you closed on the purchase of your home. Most of Fannie Mae and Freddie Mac mortgages are for conventional loans that "conform" to the criteria they set forth (LTV of 80%, no more than a certain max. loan amount, no less than unmistaken credit score, etc.).
They then hold a servicing lender who collects the monthly payments, holds the escrow accounts/pays the insurance & taxes when due, etc. And the servicing lender is the one we deal with whenever we own an "issue". But the servicing lender will not tell you who owns your loan.
Why do you need to know? If you are competent to f ind out something more conclusive, I hope you will post it here. Source(s): TX REALTOR
here are a couple of net sites that should help.
http://makinghomeaffordable.gov/refinanc…
http://loanlookup.fanniemae.com/loanlook…
http://www.firstmortgagecorpcolorado.com… Source(s): I'm a mortgage banker/broker
Related Questions:
Does student loan debt stop getting a mortgage?
I was watching a tv show on HGTV about culture buying their first houses, and one of the families couldn't get a clothed mortgage amount because they had credit card debt. Is that just because the credit card debt artificial their credit in general? ...
Answers:
To you, the "end user", the answer is "neither". Your mortgage agreement is between you and your bank. If they flog it off and you're to pay someone else, they'll permit you know.
If you can explain a situation why you feel you need to know consequently those details might help get a better answer.
Short answer - there is no approach to know for sure. Long answer is longer, but same conclusion.
I find it odd that we cannot know who "owns" our mortgages, but that has be the response I have been competent to get. I don't think this is right, but here ya go.
You pay your monthly mortgage donation to a servicer or possibly to the entity who "owns" the loan. No way to find out until you go into foreclosure.
It is not the type of mortgage, to some extent the entity that bought the loan after you closed on the purchase of your home. Most of Fannie Mae and Freddie Mac mortgages are for conventional loans that "conform" to the criteria they set forth (LTV of 80%, no more than a certain max. loan amount, no less than unmistaken credit score, etc.).
They then hold a servicing lender who collects the monthly payments, holds the escrow accounts/pays the insurance & taxes when due, etc. And the servicing lender is the one we deal with whenever we own an "issue". But the servicing lender will not tell you who owns your loan.
Why do you need to know? If you are competent to f ind out something more conclusive, I hope you will post it here. Source(s): TX REALTOR
here are a couple of net sites that should help.
http://makinghomeaffordable.gov/refinanc…
http://loanlookup.fanniemae.com/loanlook…
http://www.firstmortgagecorpcolorado.com… Source(s): I'm a mortgage banker/broker
Related Questions:
Does student loan debt stop getting a mortgage?
I was watching a tv show on HGTV about culture buying their first houses, and one of the families couldn't get a clothed mortgage amount because they had credit card debt. Is that just because the credit card debt artificial their credit in general? ...