No servicer originates its own loans. Loan originations and servicing are totally different businesses.That’s common. A lot of mortgages get sold before the first payment is due, usually to a servicer who doesn’t originate their own loans because nobody in their right mind would choose them.
Some direct lenders own their own servicing arms, but they're still completely separate businesses and your happiness with one won't necessarily mean that you'll be happy with the other. Servicing, in general, is just a volume business, so it is fairly common to experience issues with things that aren't completely routine. Just keep in mind that the volume of complaints doesn't actually tell you a whole lot (it typically just has to do with the size of the servicer and the loan types that they handle), as it'd be incredibly unusual for people to post things where they're happy with their servicers, which would be almost like posting a positive review for a gas station.
If all that you do is get the servicer to autodraft your account every month for principal and interest payments, you won't have a problem with any of them. If you have an escrow account, however, and you don't qualify for a waiver, it would be quite common to have issues regardless of who the servicer is.
Statistics: Posted by UALflyer — Tue Jan 21, 2025 6:17 pm