Frequently Asked Questions

What happens to my loan after it closes?

Empire of America is a direct lender, also known as a mortgage banker. As such, we make loans with our own funds and close the loans in our name. After the loan is closed, it is sold to a secondary market investor, freeing up the funds for additional lending. Loans sold into the secondary market may be sold “servicing-retained” or “servicing-released” referring to whether the rights to service the mortgage are retained by us or released to the secondary market investor at the time of sale. Our decision to retain or release the servicing rights depends on a number of factors, the most important being which method allows us to offer the lowest rates and points to our customers.


You will be notified on your initial Loan Estimate regarding the servicing of your loan. We sell loans servicing-released to only the largest mortgage investors in the country and are confident that your loan will be properly serviced whether we sell it servicing-retained or servicing-released.