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"Novawolf" <novawolf@verizon.net> wrote in message
news:DNaNf.31750$pE4.23786@trnddc04...
> Sorry about the late reply. I just joined the list but wanted to give some
> info. I worked for a mortgage company as a payoff processor, and we did
> loan assignments *every* day.
Thanks for responding. I wonder how those assignment transactions worked.
For example, if the mortgage balance was $100,000 at a 6% rate with 20 years
left on a 30-year mortgage, how much would someone have to pay to have the
mortgage assigned to him? I understand that you probably wouldn't know how
that part worked, but if by any chance any of your former co-workers could
explain that, it would be interesting to know.
I also know that most mortgages are sold (assigned) to another company soon
after they are written. In other words, the mortgage brokers write the
mortgages, make a commission, and then sell the mortgages to a third party.
I just wonder how much the third party pays to buy the mortgage.
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Re: How can I buy a mortgage from a mortgage company?
