Users' questions

What is MERS number in mortgage?

What is MERS number in mortgage?

The Mortgage Electronic Registration System (MERS) is a database created by the mortgage banking industry. A confidential electronic registry of mortgages originated in the United States, it keeps track of transfers of and modifications to servicing rights and ownership of the loans.

Where can I find mortgage identification number?

The system uses a unique 18-digit number, known as a Mortgage Identification Number, or MIN, that is assigned to each loan and used to track the loan throughout its life — from closing to payoff. Borrowers can find their MIN on the deed of trust signed at closing, or elsewhere on their mortgage paperwork.

How do I get a MERS release?

The loan servicer will send a lien release to the county recorder’s office. The release should contain the MIN and the telephone number to access the MERS VRU, which is the number the general public may call to obtain information about the MERS servicer. The number for the VRU is 1-888-679-MERS (679-6377).

Can MERS satisfy a mortgage?

Does MERS collect mortgage payments from borrowers? No. MERS, MERSCORP Holdings or the MERS® System do not service mortgages. Mortgage lenders, or other mortgage servicing companies, collect payments from borrowers and manage their loans.

Can a MERS tell you who owns your mortgage?

Mortgage Electronic Registration Systems (MERS) Can Tell You Who Owns Your Mortgage. If you don’t know who services or owns your mortgage, Mortgage Electronic Registration Systems can be a useful tool. Jun 3, 2015 at 3:54PM.

How does mortgage electronic registration systems ( Mers ) work?

At closing, the borrower and lender agree to name Mortgage Electronic Registration Systems, Inc. (MERS) as mortgagee or beneficiary on the mortgage or deed of trust The lender then records the mortgage in the county land records and registers the information about the loan on MERS® System

What is the Federal Tax ID number for MERS?

MERS’ federal tax identification number is “541927784”. Mortgage Electronic Registration Systems (MERS) does not take applications for, underwrite or negotiate mortgage loans.

Where can I find servicer information on a mortgage?

MERS ® ServicerID. The MERS ® ServicerID helps you identify the servicer associated with a mortgage loan registered on the. MERS ® System. You can locate servicer information for a mortgage loan using the following search criteria: 18-digit Mortgage Identification Number (MIN) Property address/Borrower Details.

At closing, the borrower and lender agree to name Mortgage Electronic Registration Systems, Inc. (MERS) as mortgagee or beneficiary on the mortgage or deed of trust The lender then records the mortgage in the county land records and registers the information about the loan on MERS® System

Mortgage Electronic Registration Systems (MERS) Can Tell You Who Owns Your Mortgage. If you don’t know who services or owns your mortgage, Mortgage Electronic Registration Systems can be a useful tool. Jun 3, 2015 at 3:54PM.

MERS ® ServicerID. The MERS ® ServicerID helps you identify the servicer associated with a mortgage loan registered on the. MERS ® System. You can locate servicer information for a mortgage loan using the following search criteria: 18-digit Mortgage Identification Number (MIN) Property address/Borrower Details.

Where does the security instrument go on the MERS system?

After closing, lenders record the security instrument in the public land records and register the loan on the MERS® System, the national electronic database operated by MERSCORP Holdings that tracks changes in mortgage servicing rights and beneficial ownership interests in loans.