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They would be paying the loan originator (the bank where they got the loan from), who is still servicing the loan (in exchange for a fee from whoever they sold
by derekp7 9y ago
They would be paying the loan originator (the bank where they got the loan from), who is still servicing the loan (in exchange for a fee from whoever they sold the loan to). But the original paperwork goes to the new owner of the debt.
- goialoq 9y agoNot quite, they'd be paying the servicer, whoever the loan holder contracted that to.