I can't see why WFB would be calling someone with a "ReFi now to a lower rate!" offer... there's no money in it for them. Easy; Their new originations department have a prospecting list of qualified names to call. The normal distribution of all mortgage holders would naturally include a large portion as Wells borrowers. The origination department *may* be actively focused on soliciting existing Wells borrowers because they may be able to reduce some of the new origination costs since they are both the new and old servicer.As to why they'd actively ask the borrower to pay them less money?They know that if *THEY* don't chase the refi & get 75 cents on the dollar, somebody else will chase it and they'll get 0 cents on the dollar. IOW: portfolio retention.Cheers,Dave DonhoffLeverage Planner
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