Mortgage loan originator is an institution or individual that works with borrower to complete a mortgage transaction.A mortgage originator can be a mortgage broker or mortgage banker & is the original mortgage lender.

Third Party Originator

Sub-participation is a contractual form of transferring assets where there occurs a transfer of credit risk of an asset from an originator to a third party. The assets them selves are not transferred outside the originator's balance sheet.

If the second mortgagee forecloses and takes possession of the property it must pay the first mortgage or if they sell to a third party that party takes the property subject to the first mortgage.

"Every mortgage lender or mortgage servicer offers mortgage loan modification. There are also many third party companies that offer mortgage loan modification, but work with them at your own risk."