We got a mortgage six months ago Our bank is already offering to lower our interest rates by 0.75% I think major banks are more like jellyfish than sharks; just brainless clumps of cells that bind into a loosely mutualistic whole
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“Is the bank screwing over the investor there?” Early repayment is a risk of mortgage back securities and everyone involved knows early repayment rates go up when mortgage rates go down. Plus, they’re buying a basket, and many loans won’t refi even of optimal to do so.
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So, the bank was happy to sell the note to Sallie because it was the optimal strategy then, and they’d now be happy to help me refi because they’d make a new round of fees off me Makes sense, and is a lot less villainous than my initial read
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