After the Mortgage Payment: Where Does the Money Go?

by Alex Stenback on February 21, 2007

Have you ever wondered what happens to your mortgage payment once you send it in?

If you are a mortgage geek (like us) or are just one of these people that like to know exactly how things work (and based on the email we get, there are a LOT of you in this category) head over to Calculated Risk for one of the best descriptions of how the "servicing" end (who collects the payments, how are they managed, who profits from it, and where does all that money go, etc.) of the mortgage business works.

…since y’all are nerds, not dummies, here’s my highly-selective
occasionally-oversimplified summary for you that skips the boring parts
like how your check gets out of the “lockbox” and that stuff.

Not for the faint of heart, but fascinating, brilliant, and sometimes surprising insider-ey stuff on how the back-end of the mortgage business works.
Tanta: Mortgage Servicing for UberNerds [Calculated Risk]

Leave a Comment

 

Previous post:

Next post: