Split title and deed

Your question is unclear. The bank doesn’t have the title or the deed, you do. The owner of property is named on the deed. The bank merely holds a security interest (called a mortgage) to ensure you repay the loan that enabled you to buy the property. Perhaps you are asking if the lender can split the note and mortgage? The note is the instrument establishing the debt, the mortgage is the instrument establishing the security for the note. A mortgage without a note is a legal impossibility — where there is no debt, there is no security for a debt. So the short answer is, banks don’t split notes and mortgages. Perhaps you are asking if a bank can split a mortgage and the right to collect the mortgage payments, an entirely different question. The answer here is YES, because the right to collect the payments (mortgage servicing rights) is a separate commercial interest than the interest in the debt. Loan servicing companies are paid by noteholders to collect payments, but they don’t acquire ownership of the notes in the process. I hope this helps.