My gripe about mortgage companies

When I was "a kid", on my first house, I was annoyed that my mortgage was sold 3 or 4 times willy-nilly, but I wrote it off as me not having great credit at the time and being a first time mortgage owner. And I got over it and went on with life. When I bought my 2nd house, I went with local Cap Fed and had it set up with my accounts for autopay, never even considered that they'd sell it and they didn't. I like Cap Fed. Still do. Too bad it's only in the Midwest.

When you are looking, mortgage companies act like they're your best friend. What a crock. Just like a lot of industries, they just want your money, and the salespeople just want their commissions. We went with CTX, for no real good reason except on the advice of our realtor, but I won't use them again, and won't recommend them. Why? It's all "standard practices" and crap like that, but it gets so IMPERSONAL about something so important. Within a month or two, they sold off our 2nd mortgage to Countrywide. Did I have a say in this? No. Did someone call me up and go "Mr Svec? Get your wife on the phone will ya, we want to see if it's OK if we sell off your mortgage. No? Not OK. Oh, I understand, we won't do it then". Hell no. Not even close, just a letter saying it's been done. It happens all the time, your letter says so. Matter of fact it's "common practice". Well thanks a lot asswipes, now I have to:

1. Send in a 2nd payment in another envelope (that'll be about $50 in postage over the term of the 8 year loan)
2. Monitor a 2nd companies terms & timelines
3. Simply DEAL with TWO now. Now I'm on TWO mailing lists too, and already gotten tons of junk mail from both stupid companies wanting me to buy insurance and refinance.

And another gripe. Don't they want my money? Fricking CTX charges $20 to make an autopayment on their site. $20!!!! I'm doing all the damn work, why do they get MORE for it?!?!? So we send in a check.

But back to the transferring. They did it again. We're barely 6 months in to our loans and now CTX has sold the main one off to Chase. You know that's just great. Do *I* have a choice in this? Hell no. Can I do ANYTHING without paying a fee? Nope!! If I wanted to go with my local bank, I'd have to pay all sorts of costs, appraisal, closing, blah blah. Absolutely not fair. The letter says "This is a common practice in the mortgage industry and has no effects on the terms & conditions". Yeah, while that may be true, it's impersonal and aggravating. This is October 17th and it's affective with my Nov 1st payment. What if I was out of town? What if I had it auto-paid through MY bank (not CTX)? What if I had already sent it? HUH? HUH?

It's common practice to spit your used gum out the window, but that doesn't make it right.

It's common practice to leave a Mexican restaurant as quickly as possible if you've overflown the toilet, but that doesn't make it right.

Frankly, it just pisses me off. They do it for one reason, and one reason only, so they can make money.