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What happens when my loan is "sold"?
Often, the actual
ownership of the loan remains the same, but the responsibility for the
servicing or the bookkeeping on the loan changes hands. For example,
Fannie Mae may be the institution which furnished the funds for the loan
and continues to "own" it, but it may contract with different servicers
over the life of the loan to collect the payments. Most home loans made
today are subject to having different servicers over the life of the
loan.