Who Owns My Loan?
(41 votes, average: 4.17 out of 5)
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Most home owners would not necessarily know who “owns” their mortgage loan. Home owners receive their monthly statements, and make their monthly payments, to their mortgage company (or mortgage servicer). This is usually not the company that provided the funds originally to make the loan.
Typically, the mortgage company providing the statements and accepting the payments is only providing the service of billing, statements, customer service, etc. The company that provided the funds originally is called the “investor”, of which, Fannie Mae and Freddie Mac are the two largest investors in the country. Both companies have setup a self service web portal for consumers to determine whether or not that company is the investor on a particular home loan. The links to those services are below.
Please note: Even if your loan is owned by either company, you will still need to find a participating lender to fully determine your eligibility for the program. To find a participating lender, simply complete the 4 step form to the right.
Click to see if Fannie Mae owns your loan. |
Click to see if Freddie Mac owns your loan. |
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Fannie Mae Products
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Freddie Mac Products
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Comments (122)
scott
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i had a loan modification from wells fargo about a year or more ago im current on my payments. i want to refinance. but i owe more than my house is worth. my credit is good im not behind on anything. do i qualify for the harp refinance or any other refinance. i dont know who the investor on the loan is. i live in washington state. thanks
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Tammy
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Scott,
You go to Freddie Mac or Fannie Mae Loan look up website to see if either these agencies own your loan. If yes, then you can refinance with HARP program. Let me know if you need my help to refinance your loan. Good Luck .
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mike
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my home is valued at about 85k I owe about 18k at 9% fixed I would like to refinance at todays interest rates I have not ever been late or missed a payment any sugestions would be greatly appreciated Thank Youi
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Andres
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Mike, you don’t want to refinance and pay closing costs for a $18k mortgage. Go to your bank and get an equity line for $18k and term it out for a fixed period of time. This way you don’t have to pay any refinancing costs and you lower your interest rate to about 3-4%.
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Ryan
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Hi Mike,
I actually disagree with Andres. Take advantage of the all time low FIXED rates. Pending your county/state- you may have little cost associated with your refi. The great news is with your current rate @ 9%, you could easily build your cost into your new rate & keep your new loan amount- what you owe now. You likely will still see savings & pay your loan off the same term you have now, and/or faster. Fixed rates are so low, there is no sense in refinancing into a Equity Line. Most are all adjustable & Interest Only.
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Jeremy
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I am wondering if someone can help me figure out if there is something I can do to lower my payments. It looks like I qualify for the Harp 2.0. The problem is I took an 80/20 loan (bcause of course prices will only go up right? and so I can always refinance later..don’t sweat the balloon payment on the 20). Needless to say, prices didn’t go up. I have 5 years and my 20% is do in full unless I can do something. Both loans are backed by Fannie Mae from what I can tell. Bought the house for 285. Still owe about 260… worth about 240. Anyone who has any advise would be greatly appreciated. Even if I could refinance the first to bring the payment down enough I could pay the difference toward the 2nd to try to have it paid off w/in 5 years that would be great. Thanks in advance!
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Jill
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I had a World Savings Pic a Pay mortgage. It has been sold to Wachovia/Wells. I was part of the class action suit and was told there would be a program for me to get modified. I checked Fannie and Freddie sites and I don’t come up. I am at 5.5% and have a HELOC 2nd. Been late in the last 12. Any advice? Thanks
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John
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You may qualify for NHRP(National Homeowner Retention Program) also know as the attorney general program. It was a settlement with most states that requires banks with subprime or predatory loans, to convert those loan in performing loans that will pay down the principle.
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ELENA
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Thanks John for your information. I have never heard of NHRP. I will look in to it.
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christa wagner
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We have our home in Ohio. It is with Fannie with PMI. We owe $253,500. Had 2 appraisals done within a month of each other. 1 for $250,000 and the other for $225,000. Trying to do a HARP but our current lender is not licensed in the state of Ohio to do this. We were told that the company that has our PMI is not working with anyone but current lender. Is there anything we can do? We have never been late on a payment but just want a better interest rate since we purchased before the big bust.
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Mai
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Hello….my situation is follow
The home loan is not with Mae or Mac?? at a fix interest rate at about 6.8%. the balance is about 190K and with an addition of a HELOC with interest only payment about 85k.the mortgage is current never late. the market value of my home is about 260K range?
I want to find out if there are any program I’m able to be qualify for?
Please Advices, because I had contact to many mortgage companies and they told me, it can not do anything about it, because of income debt ratio/ or not able to qualify because loan is not with Mae or Mac.
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Kristine
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Your only option is to talk with your direct servicer. Have you double checked who owns your loan?
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Kathy
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I can help refinance anyone wanting to do the HARP 2.0 in most all states. Also regarding Mari, we charge everyone a flat processing and underwriting fee and never an origination fee of 1% or 3%. That is crazy. Regarding less than 20% down along with most other lenders we cannot release you from any MI payment but remember the more you can put down the lower that MI payment will be. Its still much better than FHA.
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Beth
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I am totally confused with this whole refinancing deal. I have an FHA loan and would like to refinance at a lower rate. I think I qualify for a program, but I just dont know which one. Can you help?
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Mary
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Hi Beth,
I recommend that you speak with a hud approve financial counselor to review refinancing or other options through FHA. The have special programs. Call 995-Hope.
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Kathy Funke
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I can help you Beth. Email me and we can go over some specifics? You might qualify as of June 11th for a new FHA streamline refinance for a much lower MI fee monthly.
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Ryan
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Hi guys,
I actually am proud to work for a company that has 0 lender fees, points, junk fees, etc. We are a direct mortgage lender. However- I personally am only licensed in the state of Florida. The company does do business in multiple different states. Please let me know if I can help in anyway in the state of FL, or atleast try to get you to a licensed loan officer in our firm that conducts business in your state. Thanks
Ryan
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Lisa
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try an FHA streamline. are you prior to may 2009?
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Tran Thien
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Hello….my loan is owned by a private investor, and i’m about 80k upside down,is there any programs out there for people like myself to obtain this great current interest rates ??
Thank you..
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Kathy Funke
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Tran, I need to know your % loan to value. In other words can you tell me what your balance is and what the market value of your home is?
Thanks
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CC upside down
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Hi Kathy, I also have a privately held loan on my condo in Oregon. I don’t have a second and I owe $164,000. The condos in my area are all short sales and foreclosures so they are only selling for about $89,000.
I have an interest only adjustable and it just adjusted up $300 in one month! OUCH- never been late on a payment. Is there any help for me? I just want out of the adjustable interest only deal. My lender won’t modify me or I think its a scam because they drug it out in 2010 for 9 months only to send me a letter for lack of documentation? Impossible!!
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emily
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Current loan is conventional with LTV of 99%
Never late. Not with Freddie or Fannie. Interested in HARP.
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deborah duffey
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i got a letter from harp me and my husband lease purchase our house from the land lord this won’t help me will it
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Jennie
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Has anyone ehard of GEHE SECURITY1999? My bank wellsfargo has advised me this is the owner of my loan. I am currently not under water i have about 150k of equity BUT i have a balloon balance that expires next year. I don’t have supproting income to refinace does anyone recomend what steps to take. I want to keep my home.
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Dotty
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My mortgage is owned by America’s Servicing/Wells’ Fargo. Do these lenders qualify for HARP? Also, my husband and I are union members does this help us qualify?
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DANTE BATIMANA
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iT IS POSSIBLE FOR YOU TO GET HARP PROGRAM 2 IF YOU YOUR LOAN IS WITH FANNIE MAE OR FREDDIE MAC. ALSO; NO LATE PAYMENTS AT ANYTIME.
GO TO BANK OF AMERICA HARP 2 WEBSITE
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Johnny
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I just closed on a refi and got a 3.75 rate but the homes in my neighborhood are finally starting to sell but for way less than I owe. Do I qualify for harp or ANY program?
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Erin
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My loan originated with Countrywide of which BOFA took over.I just went thru a grueling modification with BOFA of which my payments INCREASED even with my husbands unemployment status.My home is at least $100,000 under water I’m not sure if I have a Freddie or a Fannie. What are my options for HARP.
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DANTE BATIMANA
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CHECK WITH THE BANK; YOU MAY BE QUALIFIED FOR HARP2 PROGRAM AS LONG AS NO LATE PAYMENTS ON YOUR MORTGAGE PAYMENT.
PLS CHECK BANKOFAMERICAHARP2 WEB SITE.
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Andrew Martinez
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Toni,
There are options using a conventional loan borrowing up to 95%. There is a small rate increase, but your overall payment when comparing is to a FHA loan is lower. I took a look at our rate sheets and it adds .375% to the rate, so essentially you’re looking at a 4.375% opposed to a 3.990%. This assumes the borrowers has a 720 mid credit score and a Debt to Income ratio of 45% max.
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Bruce
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If I have a first with one lender and a second with another Lender (assuming I am with fannie)
may I get a harp2 loan with the second bank continuing to have a subordinate position?
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Josie
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Who Owns The Note in a foreclosure case is a fundamental element that the Bank Must Prove in order to proceed and get a foreclosure.
Sounds simple, but this is the fundamental problem that the are having right now. They usually can’t prove that they own the promissory note that your Mortgage secures, and if they can’t prove that, then they legally can’t foreclose on your home. However, before you can get to this point you must do something else.
You must not just roll over and give up. If you do that, you assure yourself that you will lose your home. You must make a stand. You must DO SOMETHING. When you get that notice of default, or even better, before you miss that first payment, DO SOMETHING.
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cc upside down
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What do exactly do you mean do something? I tried to request a modification and they jerked me around for 9 months and then declined me. My note is held by a private investor but American Home Services is where I make my payment. Since its not Fannie Freddie loan what do I do???
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Phyllis
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What about those of us who fit all these criteria EXCEPT that the loan is not owned by Freddie or Fannie? That’s our situation, and we seem to have been left out in the cold.
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Lori
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I have the same problem that Phyllis has and would love an answer to her question.
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Sean Safholm
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Lori and Phyllis, if you have an FHA or VA loan then you may be eligible for a streamline refinance. Unfortunately the current HARP program is only for Fannie Mae and Freddie Mac backed loans. Lets see if our government expands FHA or some other program to help non Fannie and Freddie loans.
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Liz
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What if I don’t have an FHA or VA loan and my loan is not owned by Freddie or Fannie, is there any refinancing program I qualify for? I currently have a 1 year ARM and I owe more than my home is worth.
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dennis baker
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what if i don’t have a freddie or fannie?
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Patty
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You may still be able to refinance, depending on value on your home….up to 105%, but if you have a 2nd also, the CLTV is 105% and you have to subordinate that 2nd. you will probably end up with a higher rate but will be able to avoid MI.
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nirav
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I have a loan that is serviced by Bank Of America but invested by Fannie Mae, yet when I called Fannie Mae or use the lookup tool, I get a no match found. Why is that?
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Chargers Fan
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Are you sure fannie Mae owns your loan?
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Marilyn
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The loan may still be owned by Fannie Mae even tho it’s not showing up as a match.
BofA should be able to tell you who owns your loan.
MG
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Christian G.
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Hi…did you find an answer?
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Slimmangirl
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I currently have a 80/20 FHA loan, with the 80 being an interest only until 2013. I am underwater, and want to refinance both loans together. Can someone tell me if there is a program that will assist me with refinancing these loans at a lower interest rate.
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Oaktown
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From my understanding you are not able to combine 2 loans with HARP 2.0
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Marilyn
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No, You can’t qualify for the HARP loan. Fha don’t qualify.
Sorry,
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sharon
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Why, if there is no longer a limit to LTV, can I not fill out the steps on the right? My 1st is with BofA, and they aren’t offering this yet. Does anyone know who does?
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Marilyn
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Yes… Rabobank… E-mail me your information.
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george
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When we went with our current mortgage firm way back when, we were NEVER told that our mortgage would not remain with either Fannie Mae or Freddie Mac, and not being in the “know” I never knew this would mean one day I might never be able to refinance our mortgage. Is this considered fair that I cannot refinance after having my home’s assessment just recently increased by $27,000 this year when our house is still under water and under valued by close to $250,000. Our value is believe it or not several thousand dollars LESS than it was last year. AND now they are talking of raising every one’s federal taxes a $1,000 out of everyone’s check in 2012. My banker warns me to save more for retirement, ngo’s need more of my disposable income to stay afloat, both of my cars have over 100,000 miles, maintenance fees keep creeping up and more money from my mortgage goes to interest than to principal. Where and how can I buy entrance to the Fannie/Freddie club?
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Carmen Kryman
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I did not know there is a Fannie-Freddie Mac Club. we are with Chase via WAMU. What is this club. If we are under the HAFA program which my bank says expires 2/1/12 what alternatives do I have? Thank you.
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Marilyn
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Did you look up your loan on the websites?
e-mail me and I’ll help you thru the maze.
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Kid Cancel
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If we will have a Harp 2, why some say we got one year to do this?
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sam
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It was extended a year.
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Kid Cancel
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My loan is with Idimac- is this mac part of Fannie May and Mac. Or Or my Indimac loan is with- Mc Donal.
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Chargers Fan
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Indymac is a separate entity.
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Marilyn
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No. Use the websites to determine who owns your loan.
E-mail me if you have any questions.
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lucille
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i presently have a balance of 60k on my home mortage and a balance of 25k on a 2nd mortage. can you please tell me if i can qualify to have both mortages merged at a lower rate
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Chargers Fan
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Not in the HARP Program.
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Eric
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I have a 7/1 interest only ARM loan that converts in 2013. It is secured by an investment property that was owner occupied when I got the loan. I am underwater on value. Can I refinance this with HARP into a fixed rate?
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sam
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There are several factors that will come in to play. Your best option would be to contact a loan officer to go over the details with you.
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Kathy
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okay– I need some guidance. I have a 9.4% unconventional mortgage through Citigroup. I have asked them for a modification/refinance and was told no because I can afford it!!! I was turned down for a HARM because it is not with Freddie, Fannie or FHA and because I am in the wrong zip code(yes I have paper work for that one). I don’t want charity– I just want a lower interest rate so my home payments can be lowered. I just applied for an extension for my November payment and was told no—why?? Because I received one in April. Can someone please tell me who to go to next without hiring a lawyer?
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MLO
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Contact another loan officer.
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Marilyn
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email me… I’ll help you out.
I’ve been doing RE loans for the past 25 years.
MG
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Doug
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Marilyn – I noted your message above. I am in a similar situation where I am making all my payments faithfully but am stuck in a non-Freddy/Fannie conventional loan, interest only, at 8.75%. No one will touch it. I want to pay somebody, but at a lower rate than what I’m paying my current lender and hopefully with some principal payment. Can you help? Thanks.
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Jayne
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I’m in the same boat as you are. Let me know if your have any luck.I’ve struck out 3 times already.
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CC-underwater
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Marilyn- I am in the exact same position as Doug’s non conforming interest only adjustable which no one will touch! I just want to get out of the interest only adjustable into a fixed rate thats it! My payment just jumped $300 in one month up!
(
Never been late on a pymnt.
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Michele
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I am divorced with a $500,000 loan on a house with 6% interest. My mortgage takes up over %50 of my income. My income was reduced to a third since the divorce and although I am current, just barely. My loan is originally with countrywide and now with Bank of America. I am working with this since the end of last year. Every day they seem to need another document etc.. even let this sit on someones desk until all the documents were expired and I had to get new ones! This is not Freddie Mac or Fannie May. What can I do? Where can I turn?
Thank you in advance
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Michele
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also, because of the divorce, my credit score has been bad, so a regular refinance has not been an option.
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JE
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Marilyn, looking for a few tips as well after seeing posts from Doug and CC. I have an 80/20 ARM that we originally got in anticipation of refinancing after the 5 years was up and/or selling (assuming values would go up). I have been trying to get out of this interest only ARM into a 30/15 yr fixed since the economy took a flop. We are not backed by Mae nor Mac and our current mortgage company nor any other mortgage company I have called will refinance because of the LTV. Our payments just went up $200. I’m not looking for charity either nor super low interest rate. I just want a set payment that I can pay additional principal (the $200 increase we just had)to and move on. We have great credit and have never missed a payment. Any suggestions???? Don’t know what else to do.
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Nancy
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Why is my loan a mystery? Im not with Mae or Mac?? Any leads on how to find out who has my loan? Thanks! nc
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Charles
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Nancy, your loan maybe a private invester say like a companies 401k group or an individual.
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Ron Peterson
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How much are the closing costs?
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GERARD DONATO
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I THINK THIS PROGRAM IS POLITICAL. IT’S WHO YOU KNOW. I,D LIKE TO KNOW MORE HOWEVER. JAY
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claudette
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I just found out my morgage is not with Fannie May or Mac. What can I do to get into this program. I am upside down and want to know what my options are. Thanks, c
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Cyndi
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That’s the question I like to know??
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Atul Rastogi
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Nothing but look for regular refinance or wait till govt. comes up with plans for non Fannie or Freddy Mac Investors.
You may look for FHA that may finance you upto 97.5% though you must be able to pay the monthly mortgage.
ONE THING EVERYONE SHOULD NOTE THAT YOU WILL QUALIFY FOR ANY PROGRAM ONLY IF YOU ARE ABLE TO AFFORD THE MONTHLY PAYMENTS EVEN AFTER REFINANCE THROUGH “HARP’ OR REGULAR FHA.
To discuss in more details you may email me your circumstances.
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Barbara
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I have a conventional loan, my bank is no longer
doing modifications, our credit scores are mid
700, our interest rate is 5.375 and as everyone
else our home is worth less than we owe, any
suggestions, thanks you
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mari
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I am trying to refi a Fannie May Loan thru Citibank. My lender is putting me into HARP and charging 3 points. Why do they charge 3% for HARP? Are these points tax deductible? I am not upside down but the LTV is 93%. Can I roll my second mortgage loan into my 1st mortgage is it makes this loan 105% LTV? Thanks, mari
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Tony Rosato
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I recommend holding off on refinancing at this time. The HARP 2 loan program will be in place soon and fees should be considerably less and qualifying much easier.
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Todd Lipps
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Mari- You are better off getting an FHA. CITI should be shut down down for trying to abuse you like that. Go through a broker.
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Janetta
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Dont do the FHA loan. You will pay almost 150.00 more a month for the mortage insurance they require, plus FHA requires alot of money paid at closing for the mortage insurance.
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Toni
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If you have less than 20% down or more than 80%loan to value, not sure you can find anyone that will loan money without you having to pay for mortgage insurance. Please let me know if there is anyone out there that will give you a loan without mortgage insurance or significant rate increase.
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