Does it make a difference if my mortgage is sold as soon as I purchase a home?
What a “sold” mortgage means is that the owner is still Fannie Mae but the financial institution which closed your loan will not be handling the payments and other services related to your loan. For most customers, they want the current lender to be their servicing agent. Therefore, they can make their payments to that financial institution rather than mailing them to a company outside the state. Our clients like to look at their account online that they have with us to see that the mortgage payment has been made and how it was applied.