Several years later I refinanced for 30yr through BoNG, paying closing costs to do so. Once again they sold the mortgage and processing rights. The former wound up, I recently found out, w/FNMA. The latter went to Wells Fargo.
Earlier this year or maybe even last year, WF said they would refinance. Then again a few months ago they renewed the offer. This time I was listening when they said "no closing costs". So I did it for 20yr and cut my payment amount. Just got a note from FNMA - they bought the mortgage.
Which means I got a lower payment and a shorter loan and FNMA got less income. I'll bet WF got fees for the flip.
Earlier this year or maybe even last year, WF said they would refinance. Then again a few months ago they renewed the offer. This time I was listening when they said "no closing costs". So I did it for 20yr and cut my payment amount. Just got a note from FNMA - they bought the mortgage.
Which means I got a lower payment and a shorter loan and FNMA got less income. I'll bet WF got fees for the flip.
