Oatley & Diak, LLC’s Post

Homebuyers often misunderstand what happens to their mortgage after they close and move into their new home. Over the years I've heard a lot of home-buyers say "I don't want to use XYZ Mortgage Company because they'll just sell my mortgage." The problem is most homebuyers don't understand what that even means, or the impacts of the post-closing world. It's possible for a company to sell your mortgage while still providing the monthly service you'd expect had they "held onto it" - called a Mortgage Servicing Right, or MSR. The truth is almost every mortgage company will sell your mortgage (the asset, which is basically a 30-year IOU at X%). It's because the economics are almost always better to get cash now rather than hold - and manage - all the aspects of managing monthly payments, early payoffs, etc. When this happens there's a whole new "asset" that gets created called an MSR, which also has value to whoever owns it. The companies buying your mortgage (Fannie, Freddie, etc.) don't want to deal with managing MSRs, so they sell that "right" to other lenders. Hence, your mortgage can actually be sold twice!...(1. the asset itself and 2. the right to service it). Tad Hensley does a great job explaining how this works in this short clip. #mortgageexpert Novum Home Loans #advice

Booking a Mortgage Review is as important as any other financial review and should be done throughout your mortgage term! A quick check-in can help answer some of these important questions: ❓ Is your Fixed or variable-rate mortgage still the best option for you? ❓ How can you avoid increased payments? ❓ How can you eliminate high-interest debts? ❓ How can you get mortgage-free faster? Click the link in my bio or reach out to book your Mortgage Review appointment. 📲 (778) 858-9848 #mortgagereview #trusttheexpert #mortgageagent #mortgageconsultant #Canadianrealestate #homebuyertip #realestatequestions

Booking a Mortgage Review is as important as any other financial review and should be done throughout your mortgage term! A quick check-in can help answer some of these important questions: ❓ Is your Fixed or variable-rate mortgage still the best option for you? ❓ How can you avoid increased payments? ❓ How can you eliminate high-interest debts? ❓ How can you get mortgage-free faster? Click the link in my bio or reach out to book your Mortgage Review appointment. 📲 (778) 858-9848 #mortgagereview #trusttheexpert #mortgageagent #mortgageconsultant #Canadianrealestate #homebuyertip #realestatequestions

Understanding mortgage terms is almost as important as understanding the term of your mortgage. But don't stress, I'm here to help you understand it all. Just leave me a comment with any questions you might have! #mortgagebasics #homeownership #financialliteracy #mortgageterms

Tips to help you choose the RIGHT mortgage There are 5 areas of your life that will impact your mortgage needs. Yesterday, 7.5k people learned what those things are, and how to think about them. Miss the issue? Read it below ↓ https://buff.ly/3x1eBoh

I've personally got mortgages on my mind. How you structure your mortgage product pages are so important. Check out a few that inspired me. https://lnkd.in/eXg49RNN

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Renewing your mortgage will never be fun, but it doesn’t have to be terrible. Here are four tips to save money (and stress) the next time your mortgage is up. https://lnkd.in/gq5spPUA 

💰 Save Money on Your Mortgage! 💰 Discover the mistakes to avoid to save money on your mortgage. 📺 Watch now: https://lnkd.in/eKhy6Fdn #SaveMoney #MortgageTips #FinancialAdvice