What happens when my loan is "sold"?

Often, the actual ownership of the loan remains the same, but the responsibility for the servicing or the bookkeeping on the loan changes hands. For example, Fannie Mae may be the institution which furnished the funds for the loan and continues to "own" it, but it may contract with different servicers over the life of the loan to collect the payments. Most home loans made today are subject to having different servicers over the life of the loan.

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