The mortgage industry created a system several years ago called MERS (mortgage electronic recording system). This system allows lenders to sell loans to one another while avoiding the inconvenience/fees of recording assignments in your local town hall/registry of deeds. This is why your county record still shows the original lender. The loan was undoubtedly sold to another investor when the lender closed. What you’re actually asking is will the investor allow you to settle the debt for less than the full balance. I suppose if you showed a financial hardship, or were under water on the property, then they might allow a short sale, but that doesn’t sound like this is the case.