Mortgage Grapevine

Anyone know how to check if a mortgage is securitized?

Okay, here is a question for the techies/brainiacs here on the Vine.

I'm trying to find out a a specific mortgage was bundled into a security.

The mortgage in questions was originated in may of 2005, and funded june 2nd, 2005, by Creve Cor Mortgage.

It was one of those wonderful 580 score, 100% ltv 2/28 mortgages, that HSBC used to buy like crazy. CreveCor was really nothing more than a super-broker pass thru, as the loan was assigned to HSBC immediately.

So, I guess what I'm asking is, is there any sort of link or SEC website that would allow me to search HSBC MBS issued (I would assume) in the second or third quarter of 2005?
by XpressOH February 22, 2010 2:04 PM

Not sure why you are differentiating between immediately securitized, windowed, and windowed and later securitized but YOUR CLIENT could find out via the mod site, if the loan is Fannie owned Click Here
This site does not always give fully trustworthy answers as to whether there was credit enhancement on the individual loan but given the numbers cited in your post, only a fool would have gone the enhancement route.

by c-f-s February 22, 2010 2:18 PM

lol...as usual, CFS, your post reply is way above my pay grade.

I do know that the loan in question is NOT fannie or freddie owned- at least that is what each of the GSE's respective search tools say.

The loan was originated by CreveCor, and immediately "sold" to HSBC (CC had a bulk pooling agreement, in fact HSBC later sued them over failure to repurchase loans out of this pool, which lawsuit (I suspect) led to the demise of CreveCor. HSBC held servicing rights from origination until sometime in late 2007, at which time Citimortgage alleges to have "purchased" both the loan and the servicing.

So, Citi is SAYING the loan is not securitized, but I'm not sure that I believe them...so, that is why I ask- is there any way for me to search MBS filings from HSBC in the second or third quarter for 2005- and would those filings reflect the actual names, etc of the individual loans that make up that security?

It would be MOST helpful for some pending litigation (lol- NO, NOT MINE) if I could find some sort of proof that this specific note was in fact securitized.

Any ideas?
by XpressOH February 22, 2010 2:27 PM

is there reference to "MERS" on the documents? if so, yes.

by dark pool February 22, 2010 3:10 PM

dark pool- yes, it's a MERS mortgage...I have the MIN if that helps.

by XpressOH February 22, 2010 5:20 PM


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