on your foreclosure profile report, it reads the property is bank owned. when i contacted they said they are only the trustee, holder/assignee of the note. i want to understand why you report shows the property was bought by them?
They were the lender referenced on the notice of default or notice of trustee sale.
Determining who the real lender is these days is pretty tough with all the securitization, etc. Usually our records will be updated to show the new owner after the trustee’s deed is recorded - though you may still run into the same problem as the servicer may take the property back in their name on behalf of the investor (especially if the investor is a mortgage backed security).