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I'm pretty sure they do not. I'm currently working on a refi for my house and I considered Chase solely because I already have one account with them and it woul
by 0xffff2 6y ago
I'm pretty sure they do not. I'm currently working on a refi for my house and I considered Chase solely because I already have one account with them and it would simplify things if my mortgage was there too. I asked and was told that they do not sell their loans.
- refurb 6y agoI would be absolutely shocked if Chase held all of their mortgages on their own books. They are one of the biggest originators in the US. They’d have trillions of mortgage debt on their books if they didn't offload it. A quick google search shows at least some of the mortgages have em sold by Chase. https://www.reddit.com/r/personalfinance/comments/2h0al2/chase_just_sold_my_loan_to_carrington_mortgage/ https://www.reddit.com/r/personalfinance/comments/2h0al2/cha... That said, Chase may not sell mortgages like the one you got. I know non-conforming mortgages are sometimes held on the banks books.
- 0xffff2 6y agoI haven't actually gotten a mortgage with them yet, still shopping. So it's always possible they're just lying to me too. I think it might be more likely that they split along the lines of current customers. I.e., if you don't have other accounts with Chase they may sell the loan.
- refurb 6y agoI honestly don’t know, but my limited understanding was that the banks sell off pretty much all their mortgages except for the one off that they can’t. Maybe Chase is different? Or maybe your type of mortgage is held on the books? Interesting either way!