Selling using a Wrap Mortgage

[Marci Mayes]

My daughter currently has a conventional mortgage on a home in Alabama. She would like to sell her house using a wrap mortgage. Does anyone have any recommendations for a loan originator and loan servicer in Alabama who specializes in wrap mortgages? 

[Jay Hinrichs]

Quote from @Eliott Elias:

No one does, the loan officer is the last person that should know you are wrapping a loan if you decide to pursue this. 

Say What ?  can you explain what your talking about..  If someone is selling to someone who is going to be a owner occ in some instances an MLO is preferred or mandatory so there is not a Dodd Frank violation.  If your talking about keeping it secret from the lender .  Well that does not happen often lenders find out but they are not obligated to call the loan because the title has been alienated. As we know with 99% of mortgages or Deeds of trust have an Alienation clause and a Transfer does create a situation where the lender can call the loan.. however that is an option  for the lender and is not mandatory other wise you would have a ton of foreclosure action for all these folks buying sub too or wrapping notes. We used have a company called CA Wrap  we did this starting in the late 70s when the interest rates spiked during the Carter years.  .. So would be good if you explain yourself instead of just one sentence with no context .