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!