News for hackers. Stuff that matters.

A comment on Wells Fargo Hit with $1B in Fines. Parent comment

Re:Wells Fargo Hit with $1B in Fines by Klathmon on Friday April 20, 2018 @05:59PM (#16888760)
Since then I've bought 2 houses, and both mortgage companies I've worked with had that clause.

Is it actually possible to find someone who won't? Or is it just a false sense of choice like the ability to "choose an ISP that says they won't sell your information"?

[ Parent | on HN ]
Re:Wells Fargo Hit with $1B in Fines by dahdum on Friday April 20, 2018 @09:01PM (#16889446)
Some credit unions may keep the mortgage in-house, but afaik it's mostly private banks working with HNWIs that will do so 100%. Those mortgages are often very large or non-standard (like 100% financing interest only or a combo mortgage/heloc).
[ Parent | on HN ]
Re:Wells Fargo Hit with $1B in Fines by ensignavenger on Friday April 20, 2018 @06:08PM (#16888798)
Some small community banks maybe? Some banks keep at least a portion of their loans in house. In some cases they may still have that clause in case they decide to sell it later, even if they plan to keep it in house.
[ Parent | on HN ]
Re:Wells Fargo Hit with $1B in Fines by matwood on Saturday April 21, 2018 @02:58AM (#16890311)
It is possible. Smaller banks and CUs will often keep mortgages. Suntrust for example, tends to keep their mortgages.
[ Parent | on HN ]