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Home Loans

Discussion in 'BBS Hangout' started by CCorn, Oct 29, 2017.

  1. CCorn

    CCorn Member

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    Is it common for companies to sell off your home loan every few months?

    We bought a house just 4 months ago and we've already had or loan sold off to 2 different companies. It's getting annoying having to re-set up our online account every month.
     
    #1 CCorn, Oct 29, 2017
  2. Haymitch

    Haymitch Custom Title

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    Shoulda gone through JSCFCU brah. They kept my loan.
     
    #2 Haymitch, Oct 29, 2017
  3. A_3PO

    A_3PO Member

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    Just curious: Who was your loan from and what two companies afterward?

    Selling home loans is very common. Twice in 4 months is exceptional. Mine's been sold twice in 17 years.
     
    #3 A_3PO, Oct 29, 2017
    No Worries likes this.
  4. CCorn

    CCorn Member

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    Started with encompass

    Thensold to New York community bank followed by freedom loans
     
    #4 CCorn, Oct 29, 2017
  5. juicystream

    juicystream Member

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    The first time is very common. Many mortgage companies are loan originators and always sell of their loans. It is weird for it to happen a 2nd time so quickly.
     
    #5 juicystream, Oct 29, 2017
  6. JuanValdez

    JuanValdez Member

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    This. The first sale is not surprising at all. That the buyer of the loan turned around and sold it is a little odd, but that's just one weird sale, not two weird sales.
     
    #6 JuanValdez, Oct 30, 2017
  7. BamBam

    BamBam Member

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    It felt weird reading this...o_O
    .......
    .......
    .......
     
    #7 BamBam, Oct 30, 2017
    Sajan likes this.
  8. K LoLo

    K LoLo Member

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    I would bet that it doesn't happen again for a bit.
     
    #8 K LoLo, Oct 30, 2017
  9. Space Ghost

    Space Ghost Member

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    What type of loan did you get? First time is expected, but the second time is not very common but not unheard of.
     
    #9 Space Ghost, Oct 30, 2017
  10. Lurch

    Lurch Live Wilder.

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    "Buying single door homes is the stupidest thing you can do." Grant Cardone
     
    #10 Lurch, Oct 30, 2017
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