owns

Support how do I find out what bank owns this house?

Posted on by admin

Query by ridingis4life: Help how do I discover out what bank owns this house?
I am unable to find the bank that truly owns this home. I took this off of public records, and each particular person I have tried calling from the Grantor to the Grantee, has been a dead end. If any individual has info relating to how I can get in touch with the bank that owns this home I would greatly appreciate it.

Please note, I did call the record of Deeds workplace, and the lady on the telephone stated the bank that owned the house was not listed in the records (strange huh). Ieven tried the law firm listed below, and they stated they are not functioning on this case aganist the property, they are trying to get in touch with Ms. Werner for an additional property she stopped paying on.

Instrument: R2009027165 Old Doc Ref No: Book/Page:
Recorded: 3/9/2009 eight:34:47 AM Consideration: $ Pages: 1
Document Variety: Mortgage Assignments Comments:
Document Date: two/16/2009
Grantor: FCDB 8020 REO LLC
SPECIALIZED LOAN SERVICING LLC – Lawyer IN Fact

Grantee: FCDB SNPWL REO LLC
WERNER CYNTHIA – THIRD Party

Legal Description: Lot/Unit: 8, PTLT, Sub: ARROWHEAD SOUTH TOWNHOMES U1, TwnNotes: D162 R97-72385 30-36-11
PrpId: 16-05-30-402-035-0000 (GIS) (Assessor)
AddrNo: 16106, Str1: GOLFVIEW DRIVE, City: LOCKPORT, State: IL, Zip: 60441
Cross Reference: Bkwd R 2007060046 (MTG)
Sent To: DUTTON & DUTTON
10325 W LINCOLN HWY
FRANKFORT, IL 60423
Mar 18 2009 11:31AM

Greatest answer:

Answer by Ed Atun
This loan was sold as element of a securitization. It may possibly be owned by 10 banks. Every bank owns 1 “slice” of the loan.
Most of these loans can be tracked to a firm named MERS. They manage most of these securities. Wall Street Journal had an article about them final week (free of charge at the library).
There are two keys to finding the noteholder. One particular is that REO seems soon after Grantee. So it has been foreclosed. And the instrument mentioned in your facts is a Mortgage Assignment. You need to have to have the recorder hand you that document… the assignment. You would have to do this in individual. There is often a personal computer on the front desk for them to help customers at the Recorders Workplace.

Know greater? Leave your own answer in the comments!

Share on Tumblr
Share on Myspace Share

This is my 2nd time asking: Is there a simple and inexpensive way to determine WHO owns the note?

Posted on by admin

Question by jbsikes: This is my 2nd time asking: Is there a simple and inexpensive way to determine WHO owns the note?
Hello.

I asked the question before: “How do I find WHO owns the note” ( so that we can make an offer to buy it ), and was told that a title search would do the trick. I shared that with my friend who’s working on this problem with me and here’s their comments:

“That is concerning every sale of the house. The mortgage changes with every sale of the house. This is a deeper audit of the secondary market. Mortgages are traded like stocks behind the scenes and these trades aren’t recorded at the court house. A title search is performed in the court house by people who physically pull the public records. Securitization audits are performed at a computer looking at the actual trades. Often a Bloomberg Terminal just like stock traders use is utilized to find relevant information. These note trades are not recorded there. A system known as MERS was set up to avoid filing these at the courthouse. Not all loans were securitized. Some loans are kept in small bank portfolios. These of course are much easier to track down. MERS has been attacked by many attorneys who represent foreclosed homeowners. They have shown that MERS does not have the authority to foreclose. Anyway, simple title insurance does not show the loan trades, only the house trades.”

Can anyone answer this question?

Best answer:

Answer by kemperk
county recorder often gets them to record same
or ask escrow………who processed it [?]

Know better? Leave your own answer in the comments!

Share on Tumblr
Share on Myspace Share