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Is a consumer to be notified when their loan is sold to another bank?

Is a consumer to be notified when their loan is sold to another bank?

This is a discussion on Is a consumer to be notified when their loan is sold to another bank? within the Mortgage Problems and Solutions forums, part of the Mortgage and Loans Forum category; I bought a home in Palmdale California. I recieved my loan through Bank of America. I found out that they ...

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10-31-2008, 03:11 PM

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Is a consumer to be notified when their loan is sold to another bank?

I bought a home in Palmdale California. I recieved my loan through Bank of America. I found out that they sold the loan to Wells Fargo and Bank of America is just the service agent. Was I suppose to be notified? I was told that I was suppose to be notified and that I had 30 days to resend if I did not want it to be sold. Is this true?

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(Source: mortgagefit.com)

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bank, consumer, loan, notified, sold

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