How did they short you cents? Btw Suntrust is Truist! It was a merger between suntrust and BB&T. Suntrust mortgage overtook BB&T and they run the show.

Not 100% unless you go to a broker. The lender will be able to tell you if it is 100% which many companies it will be because they aren't approved to begin with.

FNMA isn't a servicer, they are the 'guarantor' of MBS. Basically they take about 0.5% interest of every loan in the country in exchange for guaranteeing the end investor will be made whole up to 80% loan to value. They are the most profitable entity in the country, and basically enable a stealth tax. There is value in what they provide but they produce profits that are just crazy. Wells Fargo is still probably about the tops, but they service loans for FNMA, and aren't producing like they used to. Given their book though, they still service probably as many or more loans than anyone. Wells has been reducing its market share as of late, and has the asset cap I think. Not a big deal. Still huge.

Not sure who the big 3 are. The largest services for today's loans are Rocket, UWM, and Pennymac and Pennymac is the only one that buys loans from others. I could go on, but some local companies service loans, most do not. You have to be approved and setup to retain the servicing on the loan. Most lenders have no intention of servicing the loan, and it is setup to be transferred well before a few months, and even sometimes they transfer the loan to a company that doesn't intend to service the loan long term.

First Home is also Baltimore based.

https://firsthome.com/loan-officers/david-starleper/

Edit Tom’s link is in previous post, hyperlinked Name.