Find Out if Your Loan is Owned by Fannie Mae or Freddie Mac

Are you a homeowner who wants to modify your loan or do a short sale?

Fannie Mae and Freddie Mac have online websites that can provide important information regarding your mortgage loan.

Currently organized under the Federal Housing Financing Agency (FHFA), these organizations own or guaranty about half of all mortgage loans.

Finding out if Fannie Mae or Freddie Mac owns your mortgage has become important because only their loans are eligible for the Make Homes Affordable programs, which include now or will soon include certain short sale situations.

Fannie Mae and Freddie Mac also have rules against interfering with the real estate sales commission agreed to between you and your listing agent/broker.

Per Fannie Mae: “Effective March 1, 2009, closing of preforeclosure sales may not be conditioned upon a reduction of the total commission to be paid to real estate agents to a level below what was negotiated by the listing agent with the borrower, unless the fee exceeds 6 percent of the sales price in aggregate.”

Per Freddie Mac (announced August 20, 2009): “Unless a real estate broker’s sales commission exceeds 6% of the property sales price, Servicers must not, as a condition of the Servicer’s acceptance of an offer, renegotiate the real estate broker’s sales commission to an amount that is lower than the amount that was originally agreed upon between the broker and the Borrower. In the event the sales commission exceeds 6%, the Servicer must renegotiate the commission to limit it to 6% of the property sales price.”

To find out if your loan is owned by Fannie Mae or Freddie Mac, use these websites.

https://ww3.freddiemac.com/corporate/

http://loanlookup.fanniemae.com/loanlookup/

Persons authorized by the homeowner/borrower may also make use of the information found at these websites.

Also check out http://makinghomeaffordable.gov/