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Yes. Federal banking laws and regulations permit banks to sell mortgages or transfer the servicing rights to other institutions. Consumer consent is not required.
See Also
Mortgage Servicing Transferred? Here’s What You Should KnowWhy did your mortgage lender sell your loan?Why Lenders Sell Mortgages To InvestorsUnderstanding your loan purchase letterHowever, the bank or new servicer generally must comply with certain procedures notifying you of the transfer.
Last Reviewed:April 2021
Please note: The terms "bank" and "banks" used in these answers generally refer to national banks, federal savings associations, and federal branches or agencies of foreign banking organizations that are regulated by the Office of the Comptroller of the Currency (OCC). Find out if the OCC regulates your bank. Information provided on HelpWithMyBank.gov should not be construed as legal advice or a legal opinion of the OCC.
