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[ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] I bet the loan originator still owns their loan long after its origination.. Posted by Ward-CA- on June 07, 2003 at 7:47 PM In Reply to: First Deed of Trust - On Property Held In Trust posted by SeanW on June 07, 2003 at 12:17 AM : Ward, I think you'd said this doesn't happen b/c FNMA won't accept these loans. I spent the better part of the morning examining grantors online for my county -- looking for deeds of trust, from trusts. : These *are* few, and far between. Maybe 1 in 2000. But I did find some examples on the standard mortgage forms with MERS numbers. (It's just small mortagage companies doing this-- not biggies like Countrywide. And often the lenders are out-of-state.) : Would you say this is something that shouldn't have happened, but did? Or is it evidence that although lenders don't LIKE to lend on trusts, it can be done? =•=•=•=•=•=•=•=•=•=•= Sean, If you checked closely, I think you'd find that the original lender still owns those loans that were made directly to a trust. They're keeping them in their own loan portfolio since they don't comply with FNMA's underwriting standards. Follow Ups: Post a Followup: Name : E-Mail : Subject : Comments: : : Ward, I think you'd said this doesn't happen b/c FNMA won't accept these loans. I spent the better part of the morning examining grantors online for my county -- looking for deeds of trust, from trusts. : : These *are* few, and far between. Maybe 1 in 2000. But I did find some examples on the standard mortgage forms with MERS numbers. (It's just small mortagage companies doing this-- not biggies like Countrywide. And often the lenders are out-of-state.) : : Would you say this is something that shouldn't have happened, but did? Or is it evidence that although lenders don't LIKE to lend on trusts, it can be done? : =•=•=•=•=•=•=•=•=•=•= : Sean, : If you checked closely, I think you'd find that the original lender still owns those loans that were made directly to a trust. They're keeping them in their own loan portfolio since they don't comply with FNMA's underwriting standards. Optional Link URL: Link Title: Optional Image URL: [ Follow Ups ] [ Post Followup ] [ The Forum Board ] [ FAQ ] WWWAdmin 2.0a © 1997 Matt Wright and DBasics Software Company, All Rights Reserved

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