UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev | Next
Author: Dwdonhoff Big gold star, 5000 posts Top Favorite Fools Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 126962  
Subject: Re: Mortgage Issue Date: 2/22/2013 1:35 PM
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Recommendations: 8
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 Donhoff
Leverage Planner
Post New | Post Reply | Reply Later | Create Poll . Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (16) | Ignore Thread Prev | Next

Announcements

Useful Resources
Our Home Center has all you need to make buying and owning a home a great experience. Get or refinance a mortgage and much more!
Buying/Selling a Home FAQ

Mortgage Professor
Offsite resource for mortgage questions.
2013 Feste Award Voting Begins!
Who will win the 2013 Feste Award? Vote now for the Fool that most exemplifies the Fool Community mission of Learning Together!
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Post of the Day:
Tax Strategies

TMFPMarti-Feeling Good
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and "#1 Media Company to Work For" (BusinessInsider 2011)! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement