Item on closing costs charged by lender (loan, credit, fees)

[rich5298]

I got a mortgage from a credit union. One of the items charged is for selling of the mortgage to Fannie Mae.
Since the closing I got a notice from the credit union stating that they decided to service the mortgage themselves. Does this mean the sold the mortgage but will be collecting the payments for new owner or mortgage?
If the credit union still owns the mortgage should i not receive a refund of this charge when I sell the house?

[TimtheGuy]

Originally Posted by rich5298

I got a mortgage from a credit union. One of the items charged is for selling of the mortgage to Fannie Mae.
Since the closing I got a notice from the credit union stating that they decided to service the mortgage themselves. Does this mean the sold the mortgage but will be collecting the payments for new owner or mortgage?
If the credit union still owns the mortgage should i not receive a refund of this charge when I sell the house?

What was the fee called?

[SmartMoney]

Just because a loan is serviced by the credit union, that doesn't mean the loan wasn't sold to Fannie. Lenders sell their loans and retain servicing all the time. Servicing pays big bucks.

I'm also curious as to what that fee was labeled. Credit Unions are non profits, so they do the keep their fees as low. I am willing to bet overall, the fees are low. I saw one estimate yesterday where the (not CU) lender fees (origination fee, underwriting, processing, doc prep, no discount points) totaled just a hair over $2000!