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When a mortgage is sold, a new company is typically buying the servicing rights. Those rights include collecting and processing the payments, along with all the other regular duties that come with mortgages. Stokkete/Dreamstime/TNS
Before you applied for a mortgage, you watched interest rates, compared multiple lending options and scrutinized the terms to make sure you landed the best deal. After all that research and carefully choosing a lender, you might be asking : Why did my mortgage get sold?
