Introduction to the Portfolio Loan

A loan is a loan, right? Ah, not exactly my friend. The mortgage industry has come up with different classifications and names for loans. One is the portfolio loan. So, what is it? It is a loan that is not sold by the lender once it is issued. Huh? Most lenders are just retail operations. Their sole goal is to get you to take out a loan. They then turn around and sell the loan on an investment market. The buyer then assigns it to an administrator company that makes sure you make the payments and so on. With a portfolio loan, the lender you do the loan with actually keeps it and handles payments and so on.

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