What does it mean for my mortgage with Countrywide which is switching to Bank of America?

Question by heather_heather: What does it mean for my mortgage with Countrywide which is switching to Bank of America?
I got a letter today from a Countrywide loan representative saying that basically they are transitioning my mortgage (I don’t know if they are doing this for all their mortgages) to B of A. My mortgage began about 5 years ago and it wasn’t subprime. It’s also an 80/15 loan. What does this mean for me eventually? Will I be logging on to a different web site to pay my mortgage?

Best answer:

Answer by rednavy5
They are transferring it to another company. They sold it. It happens all the time. It will be filed in your county deeds as an assignment of mortgage.

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