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That's not necessarily accurate. The smaller mortgage BROKERS will likely sell your loan to the highest bidder. If you go with a small town bank, they're often self-funding the loans and won't ever sell them off (which is exactly why I went with a small-town bank). Every small bank I've ever dealt with was extremely easy to work with and up-front about whether or not they'll sell the loan.

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I wouldn't count on this. My wife and I got a mortgage through our local bank which has two branches, both in towns under 40,000 people, and the loan was sold to Fanny Mae and their ilk before the ink had dried on the closing papers.

They were up front about it, which I appreciated, but it goes to show that using a small town bank does not guarantee your loan will stay local.

>If you go with a small town bank, they're often self-funding the loans and won't ever sell them off (which is exactly why I went with a small-town bank).

I think a lot of small banks have quit writing mortgages, rather than deal with the Dodd-Frank rules.

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