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Initial Compliance: 1 Business Day

Initial submission: 3 Business Days

Resubmission: 2-3 Business Days



FHA 2402100003

VA ID 7852160000

NMLS # 162291

Mortgagee Clause

Premier Home Mortgage, Inc.

Its Successors and or assigns

3024 Tower Road

Rapid City, SD 57701

MERS & Assignment Info

MERS FAQ’s and Sample Assignments

Below are a list of FAQ’s on MERS.  At the bottom of the page are sample assignements of mortgages that you can use as templates if your doing your closing docs.

FAQ about MERS and MIN#

Q: Can PHM accept digital file delivery?

A: Yes, upload your fie through the ACCESS portal and either submit or resubmit to us.  You will still need to send your original note and assignment to the address listed below.


Premier Home Mortgage

C/O Correspondent delivery

3024 Tower Road

Rapid City, SD 57701


MERS ID 1009662


Q: What is MERS?

A: MERS stands for Mortgage Electronic Registration System.  It simplifies the way mortgage ownership and servicing rights are originated, sold and tracked.


Q:What is MIN?

A: Mortgage Identification Number.  These numbers are generated by every originator software system. (Point, Byte, etc).   Please get with your originator software company to insure they produce valid MIN numbers.


Q: How do I get signed up with MERS?

A: Contact MERS @ 888-680-6377 and/or visit their website @  You need to be a LITE member with mers, which is very affordable.


Q: What are MOM loans?

A: To eliminate the need for assignments and to realize the greatest savings, lenders should close loans using standard security instruments containing language approved by Fannie Mae and Freddie Mac which name MERS as Original Mortgagee (MOM).


Q: Benefits of MOM Loans:

A: Faster execution, reduction of shipping time and expenses, elimination of documentation errors, simplification of loan closing process, money savings, assignments eliminated forever ($30 saved per loan),  No correction costs (up to $30 saved per document),  no tracking costs, No correspondent or broker document penalties, and One deed of trust or mortgage form for all transactions.


Q: What are non-MOM loans?

A: MERS By Assignment (Non-MOM Loans)   Lenders may also assign loans into MERS if the loan has already been closed in the lender's name. Once the loan is assigned to MERS using the same paper assignment process as you use now, tracking servicing and beneficial rights can occur electronically for all future transfers. The need for any additional assignments after this point will be eliminated unless the servicing rights are sold to a non-MERS member.

In addition to receiving the same benefits as MOM loans, assigning a loan to MERS enables you to become compliant with the requirements of trading partners.


Q: Which MIN# do I use?

A: You can find our MIN# on the Registration/Lock Confirmation, or if you are signed up with MERS already, you may use your own MIN# to                 register, and then transfer that MIN# to PHM once we purchase the loan.


Q: Can I use my own MIN#?

A: Yes.

Q: What is the difference in PHM’s MIN# or ours?

A: The difference in using PHM’s number versus your own is in who is responsible for registering the loan with MERS.  If you use your number, you are responsible; if you use PHM’s number then we are responsible.


Q: When do I transfer the MIN#?

A: You transfer the servicing and the beneficiary rights to our ORG. ID# 1009662 once we purchase the loan from you if you are using your own MIN#.   If you use the MIN# provided by PHM then you do not need to transfer the loan to us.


Q: How do I switch my documents to print a MERS assignment?

A: Contact your doc provider company and ask them to switch your docs to print a MERS assignment instead of a standard assignment.  Once you do this, it the doc system will prompt you to enter the MIN#.


Q: How do I register in MERS?

A: If you close using your MIN#, then you will be responsible for registering the loan on the MERS system.   If you use the MIN# provided to you by PHM, PHM will register the loan number in the MERS system.  PHM will need your ORG ID# to complete the registration


Assignement Non Mers    PDF  183.91k    
Assignment To MERS    PDF  489.72k    
Bailee Letter    PDF  92.46k    
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