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Answered 2008-03-27 04:51:07
The FDIC has a list of all banks that have been bought, sold, gone out of business, etc. and is the best lead to finding out a way to obtain a Satisfaction of Mortgage by tracking down where the assets of 1st Trust were transferred or escrowed to. Even if a bank goes bankrupt, the Federal regulations around closing the bank are specific as to what happens to assets, liabilities and any monies left in the bank. You may also ask your title agent to use PayoffAssist.com. They are an online search company that specializes in this area. Additionally, There is the Lane Guide (laneguide.com) which is the authority on cross-referencing the successors and their current servicing location. They have been in business for over 50 years.
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