The practice of selling or transferring the servicing of your loan is very common in the mortgage industry. When you take out a mortgage, it is always a possibility that the lender will sell or transfer the servicing of your loan to another mortgage servicer. Mortgage servicing means the collection of payments and management of operational procedures related to your home’s mortgage.
When your servicing is sold, it means that another mortgage servicer will be taking your payments, handling your escrow accounts, paying your insurance and taxes and answering your questions. This could happen right after you close the loan or several years later.
Whether your mortgage servicing is sold has nothing to do with the quality of your loan or your payment history. It has nothing whatsoever to do with you personally.