Legal Question in Banking Law in Wisconsin
I have a Satisfaction Of Mortgage recorded with a Register of Deeds by Bank Of America And Chase my Lender
states this is not good. From Wi.
1 Answer from Attorneys
There may or may not be a problem with a surprise name being on the mortgage satisfaction, depending upon who your real lender was. The lender may not be the same company as the loan servicer, to whom you make your payments, because it is common from companies who sell loans to retain the servicing rights, due to the steady stream of income they make via the servicing (receiving an processing payments and other details) over the life of the loan. One way to check who the original lender is, together with any assignments (i.e. sales) of the loan is with a title report, which should pick up the entire history, including copies of any documents you desire. You can order one of these at any title company for around $100.
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