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Lenders that service their own mortgage/don't sell?

I'm looking for a lender that services their loans and does not sell them? I'm looking for 3.50% rate which I have pre-approved at other locations. I have FICO 740+ and paying 20% down. Preferably in the Washington County area in Oreogn. 
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May 22 2012 - Hillsboro
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Profile picture for user40600278
I am looking for such a lender myself.  Why?  Let's see.  I am investing hundreds of thousands of dollars on a purchase that is likely to be with me for 20 years or more.  I would like to borrow from someone who sees me as more than just a commodity.  Banks would not want to lend to me if I was a high flying, risk taking, money grubbing, lying, thieving person.. so why should I not ask the same of my lender?
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December 13 2013
Profile picture for kienbien859165
Some people here are pretty naive about the servicing industry.  There are certain servicers that are literally nightmares to work with.  If you want to educate yourself, look up Ocwen LLC to see how horrible it can be to have a crappy servicer.  Rated F by the BBB with over 2600 complaints, investigated by a half dozen states for fraud, intentionally slapping people with fee and after fee to make them late and pay additional penalties or worse, face foreclosure.  If you've been in the housing lending industry for any length of time, and don't know the horrors that are out there, you've got your head in the sand and aren't doing your job.
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December 02 2013
I'm not sure why having a lender that services their own loans is important but obviously you have your reasons. This appears to be an older post and I'm not sure if you are still looking but Stearns lending has two pools of money they lend from and the second one (which actually had better rates this last Friday) is their "Service Retained" product. I can get you the additional info you need if you contact me.
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September 23 2012
What if you use a lender that holds the loan and you hate their servicing dept?
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May 23 2012
3.5% on a 30yr fixed rate mortgage?  At that rate today you most likely would be paying discount points.  What kind of fees is the lender quoting?  I also don't understand why it would matter who services the loan. 
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May 23 2012

 Wells Fargo portfolios some of their loans, though I can't say which. So does Flagstar and other biggies. Also try credit unions and small banks, such as Umpqua. But honestly, requiring a lender to not sell off it's loan is almost like requiring a developer to only build single-level houses--it restricts the ability to make a profit.

A 3.5% rate on a 30-year-loan will require more points upfront, since that's below the posted rate. But it shouldb't be hard with a 15-year loan. You might even do better.

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May 23 2012
With all due respect, why does it really matter? I would focus on the rate, costs, service, turn times and their actual ability to close the loan. 

Even if they did service it themselves there is no guarantee the loan will stay with them indefinitely since they could decide to offload (sell) all or some of their portfolio at anytime to another servicer.  Not to mention the likelihood of a merger or acquisition. I have been in this industry for 19 years and stable is not a word I would ever use to describe it. 
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May 23 2012

I sent you an email with information on a couple of banks.  Hope that helps.  Agree with Dave though rates will most likely be higher.

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May 22 2012

try contact washington federal ...they tend to service their loans ...their rates are much higher than the lenders that dont service  their own loans though

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May 22 2012
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No since I rather deal with a lender that will not sell my mortgage to another lender and will service the loan
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May 22 2012

That is a great rate, did you lock that rate with the others who pre-approved you.

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May 22 2012
 
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