How do I figure out who to send a QWR to?

[Sandy Uhlmann]

I purchased a note that had a UPB that was near $100,000 on the tape. When all said and done and boarded with a servicer the UPB was recorded as about 3/4 of that number. The borrower admittted to owing the higher number. There was not a payment record that accompanied this note that had been delinquent for approx 5 years. I can follow the chain and assignments to see who owned the note but this does not tell me who the servicer was for the note owner. I believe a qualified written request has to go to the servicer? I want to try to find payment records to prove or disprove the UPB. Any suggestions would be appreciated.

[Paul Birkett]

Hi Sandy,

It looks like the Servicer found the problem during the boarding process and corrected the UPB. They are the party responsible for providing the borrower with the correct balance and pay history. If the borrower sends in a QWR, the Servicer will be the one to respond. Its their licence on the line so the numbers have to be right.

My guess is that the UPB on the tape was wrong and the Servicer corrected it. Ask them for a copy of the trial balance and reconciliation from the boarding. You may have some claim against the seller your Sales agreement so that's worth checking

Good luck with the workout!

Paul