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Started By
Message
How many times has your mortgage been sold/transferred
Posted on 6/18/18 at 9:43 am
Posted on 6/18/18 at 9:43 am
to another lender?
I purchased my first home, closed in April, and I'm on my 3rd servicing lender. Advice from others warned me that it would be sold from originator fairly quickly but how many times should I expect this thing to switch hands?
I'm tired of signing up for new online accounts.
I purchased my first home, closed in April, and I'm on my 3rd servicing lender. Advice from others warned me that it would be sold from originator fairly quickly but how many times should I expect this thing to switch hands?
I'm tired of signing up for new online accounts.
11
Posted on 6/18/18 at 9:58 am to Scooba
One of mine has been transferred twice.(had 5 years) The other has not been transferred.(had 9 years.)
I think it probably depends on who the originator is.
I think it probably depends on who the originator is.
Posted on 6/18/18 at 10:10 am to Scooba
3 times. My new servicer is terrible too. My escrow went negative due to an increase in property taxes. I elected to go "paperless" and there was no notification of this. So I mailed them a mortgage payment it was like $25 short and I got hit with a ton of fees. They waived the fees but that shite is just ridiculous. Now I know to check twice a year for shortages in escrow.
Posted on 6/18/18 at 6:53 pm to Scooba
We went with a local bank years ago, and they serviced over 80% of their mortgages. They kept ours for many years, including a refinance. It was nice to be able to walk in and talk to someone if there was an issue with escrow or such.
But a national bank bought them out and immediately sold our loan, after which it bounced around like a pinball.
Finally got sick of it, called an Indian call center, stayed on hold for 30 minutes to get the payoff, and polished it off.
But a national bank bought them out and immediately sold our loan, after which it bounced around like a pinball.
Finally got sick of it, called an Indian call center, stayed on hold for 30 minutes to get the payoff, and polished it off.
Posted on 6/19/18 at 6:09 am to Scooba
One property I have has changed mortgage companies about 3 or 4 times. Like someone else said it’s just a pain to reset online registrations. I haven’t had any other problems with it.
Posted on 6/19/18 at 8:42 am to Scooba
on all my rentals?
ZERO!
have not had a mortgage on my primary home for ages
ZERO!
have not had a mortgage on my primary home for ages
Posted on 6/19/18 at 10:02 am to Scooba
My mortgage has never been sold. That was one reason we went with Chase is they agreed to never sell or mortgage.
Posted on 6/19/18 at 10:19 am to Scooba
Zero. I made sure to research who services their own loans when I was mortgage shopping.
Posted on 6/19/18 at 10:51 am to notsince98
quote:
I made sure to research who services their own loans when I was mortgage shopping.
I was sold by the mortgage guy that they were going to do the servicing. About how that is how they made more money, etc.
it was sold the first month.
Posted on 6/19/18 at 11:37 am to Scooba
Mine has been sold 3 times. The latest company to purchase my loan is Ocwen.. turns out their main business is a collection agency.. err’time I have to call them, I have to deal with this message “this call is an attempt to collect a debt”
Then, when I get a human, I’m treated as if my mortgage is a delinquent credit card debt.
First world problems I suppose
Then, when I get a human, I’m treated as if my mortgage is a delinquent credit card debt.
First world problems I suppose
Posted on 6/19/18 at 4:21 pm to Scooba
When I bought my first house (a real starter house) money was very tight. My mortgage was sold and the new lender discovered there was a mistake in the math. I ended having to pay an extra $75.00 a month. That was huge to me at the time. I tried to fight it but it was "too bad so sad"...
Posted on 6/20/18 at 9:16 am to Scooba
My online payments continued without changes...
I think it would be unacceptable otherwise
I think it would be unacceptable otherwise
Posted on 6/21/18 at 10:14 am to Scooba
2-3 times every time
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