Mortgage loan sold to another company. How will this affect my score?

[m00nScape]

I've had my current mortage loan for about 5 years with no missed payments. I got a letter today saying it was sold to another company effective November 2nd. How will this affect my Fico score? Will my 5 years account age be wiped?

[CreditCuriosity]

If anything have a temporary hit on score if two loans are showing active if or both are showing paid off or the like, but overall nothing will change.  The history will be transferred over, etc so once things settle down your score will be just like it was before sale of loan if you see anything at all

[AndySoCal]

The date open should remain the same.  The orginial account should show a zero balance and closed.

[blindambition]

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@CreditCuriosity wrote:

If anything have a temporary hit on score if two loans are showing active if or both are showing paid off or the like, but overall nothing will change.  The history will be transferred over, etc so once things settle down your score will be just like it was before sale of loan if you see anything at all

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+1

This is common and happens from time to time. Should balance themselves out. Don't be surprised to see it happen again, some time down the road.

[elim]

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@blindambition wrote:

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@CreditCuriosity wrote:

If anything have a temporary hit on score if two loans are showing active if or both are showing paid off or the like, but overall nothing will change.  The history will be transferred over, etc so once things settle down your score will be just like it was before sale of loan if you see anything at all

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+1

This is common and happens from time to time. Should balance themselves out. Don't be surprised to see it happen again, some time down the road.

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+2

Ours has been sold 3 times.