Yes, my loan is still held by the lender we used to refi a couple years ago. Loan Depot, not a small bank.

Anonymous wrote:That's interesting. When you locked your rate didn't you sign something saying they would not hold the loan?

No, I don't think so; don't recall anything like that. Just multiple reminders throughout the process that they would likely sell it and that my payments would start going to whatever company that ended up being.

This is because loan packagers are starting to take substantial haircuts from originators to buy loans.

That's interesting. When you locked your rate didn't you sign something saying they would not hold the loan?

Anyone else have this happen recently? Was told all through closing process that mortgage originator would likely sell the loan (as is typical for the vast majority of their loans), but originator decided to keep it. Not a big deal either way, but am curious why. Is this because of the slow down in mortgage volume overall (i.e., keeping the loan as alternate income since they won't be getting so many origination fees, especially not from refinances)?