Anyone with Wells Fargo mortgage

[MEE2Too]

Hi, I have been with Wells Fargo for the last 4 years and they haven't sold my loan nor will they.

[pipeguy]

---

@MEE2Too wrote:

Hi, I have been with Wells Fargo for the last 4 years and they haven't sold my loan nor will they.

---

https://www.wellsfargo.com/com/corporate-trust/mortgage-backed-securities

Almost ALL Credit card debt (balances) are leveraged into securities too - even within the same issuer/servicer - it's how they lend a billion dollars when they only have 100 million to lend - package your account receivables as bonds with a 5-7% return, service the bonds while collecting 12-25% on 10X the money to lend, do it again and again. Car loans, especially subprime high interest loans are the current hot secutries/bonds.

Never say never, my first mortgage is with WF's too but I very much doubt they are actuallyholding the note in house. 

edit=typos

[StartingOver10]

---

@pipeguy wrote:

---

@MEE2Too wrote:

Hi, I have been with Wells Fargo for the last 4 years and they haven't sold my loan nor will they.

---

https://www.wellsfargo.com/com/corporate-trust/mortgage-backed-securities

Almost ALL Credit card debt (balances) are leveraged into securities too - even within the same issuer/servicer - it's how they lend a billion dollars whe they only have 100 million to lend - package your account receivables as bonds with a 5-7% return, service the bonds which collecting 12-25% on 10X the money to lend, do it again and again. Car loans, especially subprime high interest loans are the current hot secutries/bonds.

Never say never, my first mortgage is with WF's too but I very much doubt they are actuallyholding the note in house. 

---

Exactly. WF can sell the note or sell the servicing or sell both the note and the servicing. It is done all the time.

Here is one such sale Jan 2014 http://dealbook.nytimes.com/2014/01/22/wells-fargo-sells-servicing-rights-on-39-billion-in-mortgages...