Mortgage lending referral in WA?

[Hassin Bin Sober]

12. The problem is your best deal is going to come from a saleable (to Fannie/freddie) loan.

Your local bank or your credit union doesn’t have enough money laying around to loan to you and all your neighbors for 30 years.

They sell everything to Fannie/Freddie or FHA or Va

The part you see is the servicing. That gets sold to the big banks because the big banks can operate more efficiently (economies of scale)

Most small originators don’t want open envelopes and pay tax bills and monitor insurance for the few bucks a month they get in servicing kick back. They sell the servicing piece for an upfront “servicing release premium” paid by the big bank who can earn a profit treating millions of customers like shit.