[redshirtrob]

Yeah, I could not care less about what they do with the loan. I'm not looking for a relationship, just the best deal I can get. Full stop. Do people still think otherwise on loans?

All that said, our local CU does in fact keep their own mortgage portfolio. This may be rare, I don't know. They're a large CU associated with a government contractor.

When I bought my house they had the best deal (rate + closing costs) hands down. When I refinanced they were no longer offering 30yr loans on their portfolio (and I wasn't interested in 10/15), but still were originating them to sell. Unfortunately the 30yr rates were not as quite good as I could get elsewhere and closing costs were close to a wash so I went another direction.

[bradfa]

I didn't even know this was a thing, selling off the servicing of loans. Our first home's mortgage was with HSBC and HSBC did everything, up until we sold that house. Our second (now current) home mortgage was with a local credit union and they did everything, too.

Dealing with the local credit union was super easy for everything. Not that HSBC was bad, but the credit union was always local people to talk to and never any problems.

[mdavidn]

Yes. This first happened to me in 2008, when Bank of America sold my auto loan. I was sending payments to Citizens thereafter.

[bombcar]

I prefer that the servicing stay with the CU/bank I was working with, but wouldn't pay "that" much more for that, a couple hundred sure, actual percentage/points difference? nah.

I had a loan that got passed around a number of times back in the day, ending up with Countrywide each time.