Replies to This Discussion

Permalink Reply by Michael Schneider on July 1, 2010 at 5:27am

Danny,
Not an expert on this, by any means...But....
I believe this means that BoNY is the trustee for the bondholders of the trust into which this loan was securtized. Hence, this will be determined by the specific Pooling and Servicing Agreement (PSA) associated with the trust. I'm not sure the degree of consistency of the delegated authorization from Trust to Servicer across different PSAs. And, I don't think the agreement is public, in general. I think the Fannie PSA is public, and I would think private securitization followed Fannie.
Google: bank new york pooling servicing agreement trustee
But, be prepared to have a strong stomach....
I have a Fannie sample, I believe, if you want it.

Permalink Reply by Danny D on July 1, 2010 at 6:26am

thats more than i knew an hour ago. thanks

Permalink Reply by CJ Wright on July 1, 2010 at 11:40pm

Hey Danny, Can you break that down in Southern English for us poor, slower agents in the South?

Michael Schneider said:

Danny,
Not an expert on this, by any means...But....
I believe this means that BoNY is the trustee for the bondholders of the trust into which this loan was securtized. Hence, this will be determined by the specific Pooling and Servicing Agreement (PSA) associated with the trust. I'm not sure the degree of consistency of the delegated authorization from Trust to Servicer across different PSAs. And, I don't think the agreement is public, in general. I think the Fannie PSA is public, and I would think private securitization followed Fannie.
Google: bank new york pooling servicing agreement trustee
But, be prepared to have a strong stomach....
I have a Fannie sample, I believe, if you want it.

Permalink Reply by Kimberley Kelly on July 2, 2010 at 1:25am

How did you find out who the Investor actually is?

Permalink Reply by Michael Schneider on July 2, 2010 at 2:42am

To find the Investor:
Ask the Servicer, generally they will tell you.
I think the Investor can specific that they wish to remain anonymous, but generally that's not the case.
Also, Fannie and Freddie each have online lookups.
If the "Investor" is a trustee (eg, BoNY/Mellon), then I think the loan is probably securitized, which is the case with most subprime mortgages

Permalink Reply by Corinn on October 5, 2011 at 4:13am

Does anyone have any contact information for Bank of New York Mellon?  The servicer (Nationstar) is trying to cut commissions, and blaming it on the investor (BofNY).  I've had servicers do this before with Fannie as the investor, and knew to tell them that Fannie does NOT cut commissions, but I don't know much about BofNY.  Any help is appreciated!