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I am in agreement with the form
I run a very small bank and we keep every loan we make. All banks must provide you with a form that tells if they plan on selling your loan. If you don’t want your loan sold and would like to have a relationship with a loan officer, they I would like to suggest using a small bank. It accually works. I have been dealing with the same customers for 30 years and have serviced all of their loan needs for that long. Remember, rate is not everything. You get what you pay for, just know what your getting before you sign.
Hi papertracker, and thanks for participating. It sounds like you’re suggesting that the new servicer should disclose to the borrower all the information it received from the old servicer. Do you think that the new rules on information requests and error resolution would protect borrowers from mishandled information? The costs of responding to error requests may be much lower than the disclosures you suggest.