If Freddie Mac "owns" my loan, does this mean

[lckybch]

that USAA no longer does? I am so confused by all of this. USAA gave us our mortgage in 2007 and explained from the get go that our loan would be serviced by either GMAC or US Bank, we got US Bank. If we ever call about our mortgage to the straight US Bank number, we get transferred to the department that is for USAA customers. But on the Freddie Mac "who owns my loan" look up, it says Freddie Mac owns it.

Color me confused because I have no idea who's on first here.

[hereforinfo]

Freddie Mac purchased your loan on the secondary market. Generally they package the loans and sell securities backed by these packages to other investors. FM "owns" the loans, but their role is more of a middle man and a guarantor. FM is bound by their pooling and service agreements to those investors. In some cases they invest in their own securities, so they would actually be the investor. It's anyone's guess as to where your loan falls. Being owned by FM means that you should qualify to be considered for HAMP, but the investor (whether that is FM or the party who bought the MBS containing your loan) calls the shots.