Grrr... Bank sold my home loan, dropped 16 pts.

[Anonymous]

Guessing they sold it as my loan is such a low apr.

What will happen when a new mortgage account shows up?
This one was 3 years old.

The current one shows paid, closed, transferred.

Scores all sit at 780+

[JVille]

The new credit line will show the original dates and terms and appear as a transferred services. It will not affect your Fico Score.... lenders selling loan portfolios is an every day occurrence.

[pizza1]

This is why I want to get mine with NFCU...they service it for the life of the loan.

Agree with JVille..

[Kforce]

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@JVille wrote:
The new credit line will show the original dates and terms and appear as a transferred services. It will not affect your Fico Score.... lenders selling loan portfolios is an every day occurrence.

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Had my 1st mortgage sold/transferred 3 times, not a big deal.

At first glance it might make you portfolio look thicker   

[Anonymous]

My mortgage has been sold five times since 2010. Unreal ... somebody makes money but it sure isn't me!

[Revelate]

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@pizza1 wrote:
This is why I want to get mine with NFCU...they service it for the life of the loan.

Agree with JVille..

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Hrm, maybe I need to go request my mother's paperwork and get membership anyway... seem to have pretty respectable rates and I know their servicing would work just fine if I decide to really make a dent in my mortgage balances.

Really coming to the conclusion I might as well just add another 900 bucks to my cash flow instead of sitting on this 15 year fixed at the correspondingly higher payment.

Edit: or maybe not with NFCU, their closing costs are absurd from everything I can find on them... seems to be a trend with CU mortgages =/.