WHO OWNS YOUR NOTE

In a Nutshell

A  Qualified Written Request (QWR) is a tool to get information about your mortgage or notify your mortgage servicer of an error. This article will discuss what a QWR is, what it must contain, and what loan servicers are required by law to do when they receive a QWR. We’ll also touch on instances that a servicer doesn't have to comply with your QWR  and what you can do if your servicer fails to comply with your QWR.

A  Qualified Written Request (QWR) is a tool to get information about your mortgage or notify your mortgage servicer of an error. They can be helpful if your lender is pursuing foreclosure in a state where they aren’t required to go through the court system to do so. This is called nonjudicial foreclosure. In nonjudicial foreclosures, there’s no court requiring you and your lender to exchange information. But you can use a  QWR. You may uncover the information you can use to bring a lawsuit to stop your foreclosure. 

This article will discuss what a QWR is, what it must contain, and what loan servicers are required by law to do when they receive a QWR. We’ll also touch on instances that a servicer doesn't have to comply with your QWR  and what you can do if your servicer fails to comply with your QWR.

What Is a Qualified Written Request (QWR)?

A  QWR is either a request for information or a notice of error that you send to your mortgage servicer. The rules for QWRs are part of the Real  Estate Settlement Procedures Act (RESPA) of 1974. Most mortgage borrowers are aware of RESPA from its role in the closing of their loan.  Many borrowers aren't aware of their rights to send QWRs to their mortgage servicers.

Your mortgage servicer is the same company you send your payments to. There is often a special address where you must send QWRs, which may be listed on your bill or on the servicer's website. But it’s not always called the QWR address. It may simply say it’s the place to send requests for information or notices of errors. You can call your servicer to ask where to send a QWR if you can't find the address.

 You can send a typed or handwritten note, so long as it contains the necessary components (listed below). Writing your QWR on the payment coupon or form that's provided by your servicer is not a valid QWR.  Also, it's important to send a QWR by certified mail with a return receipt. By law, lenders are required to respond within a certain time frame. Having a certified mail receipt helps ensure your servicer sticks to these time requirements.