Selling Loans

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Selling Loans

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07-22-2005, 05:27 PM

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Selling Loans

undefinedWhat is the name of your state?Washington
I was recently looking into refinancing our mortgage. We do have a 3 year prepayment penalty. However we were told that refinancing with the same company that it would be reduced and/or eliminated. Now we find out that the current company that we send our payments to have sold our loan, however are still servicing the loan. Are we not to be notified if our loan is sold? And how does that work if we are paying one company when another company bought our loan?

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