What happens if my mortgage is sold? Is my loan safe?
If your loan is sold, then your lender must provide you with a loan ownership transfer notice. Just because your loan is sold does not mean that your servicing right is sold and that you will get a new servicer.
If your loan is sold, then the new owner of your loan must notify you within 30 days of the effective date of transfer. The notice will disclose the name, address, and telephone number of the new owner (and, if different, the person who can resolve issues concerning your loan payments or any right to rescind the loan), the date of transfer, and whether the transfer of ownership is recorded in public records.
Ask CFPB provides general consumer information. It is not legal advice or regulatory guidance. The CFPB updates this information periodically.
Ask CFPB includes links or references to third-party resources or content. The CFPB does not endorse the third-party or guarantee the accuracy of this third-party information. There may be other resources that also serve your needs.