finances (~) 

“Hi, we’re transferring your loan servicing from KindOfOkay Credit Union to EvilCorp™️ beginning July 1st. Don’t worry, no other changes will be made to your loan.”

*Googles EvilCorp™️, finds consistent one star reviews and multiple BBB complaints*

Welp, I guess I’m paying this off earlier than I’d planned this year.

re: finances (~) 

@Goldkin = ^= Why is... that allowed?
Like, you borrow money from one corporation, why should who is getting that money back, change hands? That doesn't make sense.

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re: finances (~) 

@Taylor In the US, loans are sold on an open market. It’s common to have it split up between who holds the security (usually immediately sold to a federal agency) and who services the loan (often sold as an annuity between creditors).

I can’t speak to why it’s legal, but it happens because the value of assets fluctuates depending on the value of the dollar. So when the offering price EvilCorp™️ provided up front exceeded the time value of the payments, it sold.

re: finances (~) 

@Taylor And if you’re wondering if that sounds like a hellscape for bad actors, it kind of is. It was only a decade ago when that market blew up in what we now know to be the subprime mortgage crisis.

re: finances (~) 

@Goldkin @Taylor TVM is a hell of a concept that I wish more people knew.

You debt is only debt to you. It’s an asset to others.

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