Yes it is possible, and it is just as easy. It works in much the same way - there are differences between the two countries - but the option of refinancing you

Yes it is possible, and it is just as easy. It works in much the same way - there are differences between the two countries - but the option of refinancing your loan is pretty much the same. In both instances you'll be up for fees for breaking your old loan, and up for fees for originating your new loan. What's more likely is that due to changed circumstances this guy wouldn't qualify for his loan again. So while a bank can't force you to leave because your credit situation has deterioated, you are effectively locked in because another bank wouldn't want you. The same can happen in Australia (and will probably be happening in increasing amounts in the coming years). I have built software for American mortgage lenders and Australian mortgage lenders (and UK ones, for that matter). The three countries have very similar systems, although the USA has a much wider variety of product options, the laws around originating and terminating loans are pretty similar. This is not surprising, all three countries have laws evolved from the same system, and mortgages are a very old legal construct. A deteriation in his credit might be : loss of job, reduction in income, another loan default (say, car loan or credit card) or the value of his house being less than the mortgage (most likely I would guess). In effect he just wants the mysterious charges removed so he can manage his budget. As long as you're paying your mortgage the bank can't touch you. In reality Wells Fargo are probably trying to get him to leave of his own accord.