1. mortgage companies have a number of different factors pushing them to either sell your loan or to keep your loan. It really does not matter what company you do your mortgage with, it will more than likely be sold a number of times over the span of the time you have the loan.
Why Do Mortgage Companies Sell Your Loan. John. Posted in HECM Loan Post navigation
Paying points to get a lower rate on a mortgage is almost always a losing proposition. That’s because most homeowners don’t keep their mortgages long enough to do more than recoup the up-front cost of.
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Mortgage servicers handle loan modification applications from homeowners. Unfortunately, servicers sometimes make serious errors when processing modification requests. This can cause a number of problems for a homeowner, like missing out on getting the loan modified or even a wrongful foreclosure.. Read on to learn about the most common servicer violations when it comes to loan modifications.
I read your article from 2011 in regard to a particular mortgage servicing company and the poor customer. [More Matters: Why it’s not a good idea to use your home as collateral for a business loan].
If one of those events happens before the 4 months than the mortgage company your loan was sold to can call up the original company and ask them to pay them back. You can see why a lot of mortgage companies would rather be in the business of originating and selling loans versus collecting mortgage payments.
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Good question and an easy one to answer- if not for selling the loan, the lender would soon run out of money to lend. Mortgage companies today work with a line of credit. Itrsquo;s not as if the mortgage company approves a loan and then opens up a vault full of money to fund your mortgage. Instead, when itrsquo;s time to fund your loan the.