I’ve seen this story circulating around the Internet for awhile, and decided to investigate. There’s actually some truth in it.
Here’s the problem–with loans sold multiple times after origination, and then securitized, with servicing companies collecting money and paying out to bondholders rather than note owners, with mortgage trusts going out of business and servicing companies changing ownership, a lot of paperwork gets lost in the shuffle.
It’s also not uncommon for a servicing company to think that A owns your note and mortgage (or deed of trust) when, in fact, B owns your note, C also owns your note (they’ll have to fight that one out between themselves) and D owns your mortgage.
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