What is MERS and How Does it Relate to Your Mortgage?

When you close on your mortgage it is normally sold and the servicing of the mortgage or where you make your payments will change and can change multiple times over the life of your loan. If it is a conventional mortgage typically the supplier of the money is one of the Government Sponsored Entities of Fannie Mae or Freddie Mac. In this process your loan is assigned a unique id from the Mortgage Electronic Registry System or MERS. This 18-digit code is used to track servicing rights and ownership interest in your loan. It doesn’t mean a whole lot to the consumer but is important in tracking your note and mortgage while it is in existence.