Why Is My Mortage Being Sold Again
It's common for lenders to sell domicile loans to another visitor, including Freddie Mac. This do allows lenders to make more dwelling loans. If you received a letter of the alphabet titled "Borrower Notification: Freddie Mac Has Purchased Your Mortgage Loan," don't be alarmed. The letter is for informational purposes but, and you do not demand to accept activeness.
Y'all Do Not Need to Take Action
No action is required on your part when yous receive a borrower notification alphabetic character.
We practice recommend that yous file the letter with your other mortgage documents.
Why Your Lender Sold Your Loan
It'due south common for lenders to sell abode loans to another visitor, including Freddie Mac, sometimes presently after yous've closed on your dwelling house.
By selling mortgages to companies such as Freddie Mac, lenders have the ability to continue making more home loans.
Freddie Mac supports the secondary mortgage marketplace past helping keep money flowing through the mortgage system, regardless of whether economic times are good or bad.
Why You Received the Borrower Notification Alphabetic character
By police force, Freddie Mac is required to notify you that your mortgage was sold to us.
The borrower notification letter includes boosted data about your mortgage as part of our connected efforts to promote long-term, successful homeownership.
If the balance in the letter is different than the balance on your mortgage payment, the letter may not reverberate recent payments yous've made. For information most your principal residuum or mortgage, contact your servicer, which is the company you brand your mortgage payments to, using the contact information on your mortgage statement. Do not contact Freddie Mac.
Your Loan Payments Are Unchanged
Fifty-fifty though your mortgage was sold to Freddie Mac, there is no change to the way you brand your mortgage payment.
You lot must continue to send your payments to the company listed on your mortgage argument.
The selling of your mortgage to Freddie Mac does not change the terms or conditions of your mortgage, and your payment obligations remain the aforementioned.
If you take questions most your mortgage or mortgage payment, contact your servicer, which is the company yous brand your mortgage payments to, using the contact information on your mortgage statement. Do not contact Freddie Mac.
For more than information about borrower notification letters, view a sample borrower notification letter and review the borrower notification letter frequently asked questions on My Domicile by Freddie Mac ® .
Source: https://myhome.freddiemac.com/blog/homeownership/20160412-why-was-my-mortgage-sold
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