Why Do Mortgage Companies Sell Loans

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Lenders may also get money for servicing the loans they package and sell via MBS. Yield Spread Premium Mortgage lenders use funds from their depositors or borrow money from larger banks at lower.

Why Do Banks Sell Mortgage Loans? – Credit Info Center – Mortgage bankers make a commission when they sell your loan to another company. If a banker makes a point on a package of loans worth a million dollars, he makes $10,000 dollars (1 percent of $1,000,000) in immediate profit by selling them.

Why Mortgage Companies Sell Your loan july 19, 2008 – Updated December 20, 2017 You closed on a new mortgage four months ago and all of a sudden you get a letter in the mail saying your loan was sold to a different company.

It is not a function of the borrower’s payment record. It is because this is the fundamental business model of the mortgage banking industry. The banker originates the loan. This is the customer acquisition, or sales part. The underwriter reviews.

The mortgage originator is the first company involved in the secondary mortgage market.. mortgages and mortgage brokers do not. mortgage brokers act as. sell individual loans as they are.

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.

When the mortgage company sells the loan and the servicing, the customer is notified at least 15 days before the transfer that they will be making payments to another company. The decision to sell the servicing on a loan is usually not personal but because that loan belongs to a pool of several loans.

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Most mortgage lenders do not service, or "keep", their loans. Instead, lenders sell their loans to banks or servicing companies. These servicers then take on the job of collecting payments on.

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