Where your mortgage goes after closing, and why it gets sold
Your loan inside a security
How it flows
After closing, many loans are pooled with similar loans into mortgage-backed securities sold to investors. Investors receive the payments, while a servicer collects them from you. Your terms and protections do not change because the loan was pooled.
Last reviewed against the primary sources listed below.
Who does what
| Role | What it does |
|---|---|
| Servicer | Collects your payment |
| Investor | Receives the cash flow |
| Guarantor | Backs certain securities |
Questions about loan sales
What is a mortgage-backed security?
A pool of loans whose payments go to investors.
Does pooling change my loan?
No, your terms stay the same.