I just found this blog post on the Googlesphere–Why do Mortgage Lenders/Brokers sell my Mortgage Loan?–so I am not terribly alarmed that a mere three weeks after closing on my house, my mortgage has already been sold. But it does reaffirm the persistent belief I’ve had that absolutely no one in the mortgage business is to be trusted. You deal with a lender and sign a thousand documents with their name on it. You get it drilled into your psyche that you will supposedly pay this mortgage company $X every month for the next thirty years. (Realistically, I figured I’d be refinancing pretty soon, anyway). Then, after you close, you get a mailing-a-day from the lender trying to coax you into buying some bullshit mortgage insurance. And then you get the letter that says your mortgage has been sold. All of the language designed to make you think you’re entering into some sort of “relationship” with the lender is bullshit.

Now, I’m not shocked that this is the way of the world. I’m sure I’d heard something to this effect before, that your lender is likely to sell your loan. I just didn’t realize it would happen before my first payment arrived at their office.

I’m not going to mention my controversial broker by name. He’s built quite a name for himself in this area, and his powers of persuasion would dwarf mine considerably. He’s still an enigma to me. He supports all these great charitable causes and has a general philosophy about mortgages that I agree with. But his customer service skills seem to be derived from the school that dictates you can condescend to your puny potential customers because you’ve already made it and don’t need to make these customers think they’re worth your time. If anyone ever asks me off-blog, I’ll tell you of whom I speak. If he personally happens to be reading this, my message to him would be that I’m sorry, but my homebuying experience was a miserable one, and you’re the one I entrusted with making it go smoothly.

Now for the mortgage company who initially owned my loan.

It has been a pleasure to service your mortgage loan.

F*** you, 1st Medallion Mortgage Corp. out of Greensboro, North Carolina. May Googlers find this post and have second thoughts of giving them their business. I’m actually paying 3/8 of a point higher interest than I could had I gone through a local credit union because 1st Medallion already had me by the balls due to the convoluted situation that Mr. Super Broker led me to.