A
Central,#2Consumer Suggestion
Sun, March 16, 2003
You said that you never signed anything agreeing to do business with Fairbanks, but I can guarantee you that the original loan papers that you signed with the company who sold your loan to Fairbanks has a clause that states that they can sell your loan to another company at any time. If you signed those loan papers, then you agreed to allow your loan to be sold to whomever the lender felt like selling it to. More then 75% of mortgage loans are sold to another company within the first 3 years. Personally, I think this deplorable practice should be banned!