Who’s Holding the Mortgage on Your House?

Well, if you happen to be one whose paid-off your mortgage then you definitely know the answer to that question; You Do!  However, if you’re like the millions of people who are paying on their mortgages, you might answer something like this…”The bank where I got the mortgage from” or how about “the mortgage company where I got the loan from holds the mortgage”  Whoa Nellie! Not so fast.  There’s a very good chance that there are dozens, if not hundreds of people and companies who own a piece of your mortgage, which bring me to the topic of this article….Securitization.

Without getting too technical here, let me try to describe what’s going on here.