Welcome to MERS for Homeowners

WHAT IS MERS?

While MERS primarily provides services to mortgage companies, we also offer an important benefit to homeowners—we keep track of the identity of Servicers that registered loans on our system.

WHAT IS A SERVICER?

The servicer is YOUR mortgage company. It is the company that handles the day-to-day tasks associated with managing your loan. Their duties include but are not limited to:

• Collecting and remitting loan payments
• Responding to borrower inquiries
• Making advances when required
• Accounting for principal and interest
• Holding funds for payment of property taxes and hazard insurance (also called Managing your escrow account)
• Making any physical inspections of the property
• Counseling delinquent mortgagors
• Supervising foreclosures and property dispositions in case of defaults

After your mortgage loan closed, your lender more than likely outsourced the job of managing your loan to another company called a SERVICER. This is the company you call when you have questions about your loan.

HOW CAN I FIND OUT THE IDENTITY OF MY SERVICER?

MERS can help! You may:

• Dial the toll-free MERS® Servicer Identification System at 888-679-6377, an automated touch-tone system, or
• Access MERS® Servicer ID, a free web-based system.

Before calling or accessing the website above, please have the following information ready:

• The property's mortgage identification number (MIN), or
• The borrower's name and social security number, or
• The property address

WHY DO YOU NEED TO KNOW THE IDENTITY OF YOUR SERVICER?

There are three reasons why you must always keep track of the identity of your Servicer:

1. Your Servicer is responsible for handling any questions you have about your mortgage loan. Payoff amount? Contact them. Taxes and hazard insurance? They should have that information too. Check your payment booklet. Do you see a toll-free number you can call or a website you can access?
2. Your Servicer is also responsible for collecting your payment. To avoid late fees and potential fraud, make sure you are sending your payment to the correct Servicer.
3. If you are unable to make the payments on your mortgage and wish to negotiate the terms of your loan, you may only do so with your Servicer. Contrary to popular belief, it is your Servicer and not the lender that can negotiate the terms of the loan with you.

• HopeNow. An alliance between counselors, servicers, investors and other mortgage industry participants to assist distressed homeowners.
• MortgageTown. Sponsored by the National Consumers League. Educates consumers on the step-by-step process of obtaining a mortgage.
• Neighborworks America. A national nonprofit organization created by Congress to provide financial support, technical assistance, and training for community-based revitalization efforts.
• Information on Foreclosure Rescue Scams, published by the Federal Trade Commission.