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> For example, to move loans from one bank to another you need some documents How would this work? The lender may have paid for your loan (and may not have eve
by echelon 2y ago
> For example, to move loans from one bank to another you need some documents
How would this work? The lender may have paid for your loan (and may not have even gotten the right to service the loan). How do they make their money back? What about the mortgage-backed securities market?
- litenboll 2y agoMaybe I described it in a bad way. I'm talking about renegotiating the interest rate with another bank. So the original bank loan is not moved in practice, it's just paid back in full. It's law here in Sweden that the mortgage plan can't be changed (I.e. number of years etc) if you change bank, so the documents are related to this.
- Spivak 2y agoAhh, this is called "refinancing" in the US.