2do Mortgage - Ocwen PHH NewRez Nationwide Direct Inc

OneHugeMess

LoanSafe Member
May 30, 2016
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I just want to clarify that “Mortgage Servicing Rights” or “MSR’s” are not actual portfolios of loans. They are the servicing rights, to collect payments from homeowners and pass the money to investors — minus a servicing fee of 0.25 or 0.75%.

THE actual loans themselves did not get bulk endorsed over to NewRez.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,498
270
83
You’re exactly right. That’s why they did not try to collect and sued you for the amount. The servicing rights include the collection rights. My HELOC was in the trust, the trust was terminated became an orphaned loan. I sent Shellpoint a QWR to identify a creditor, no reply.
 

moretrouble

LoanSafe Member
Nov 14, 2009
1,498
270
83
I went back and review all my correspondence from Shellpoint and they did sent me a letter informing me the new owner of my HELOC was US Bank as trustee of NRZ recovery trust. In a separate letter Shellpoint is the new servicer transferred from Ditech. They did not explained how NRZ Recovery trust acquired my loan and from who? from a defunct originator? This is similar to my first from a defunct Ameriquest. I can smell some fake documents in the making. By the way, it's been 4 months they have not replied to my QWR letter.