Can my mortgage loan be assigned to a new lender?

Can my mortgage loan be assigned to a new lender?

Ron Goodlin (Mortgage Banker and Broker, The Goodlin Group) gives expert video advice on: Is it possible to pay off my mortgage loan early?; Is there a penalty for paying off my mortgage loan early? and more...

Yes, your mortgage can be assigned to a new lender. It happens quite frequently, and there will be documentation in your mortgage to support that when you're signing your final loan documents. It will say that at any point in time your loan can be serviced by another institution. That's actually a very big market out there; it's called the mortgage-backed security market, being done by Wall Street. It's a major market where loans are being packaged and sold all the time.