[Zipfly]

...refinance mortgages? Why would they allow someone to move to another underwriter, or themselves, at a lower rate? I understand the new underwriter buys the debt from them, but why would they lose out on a higher interest rate deal (e.g., they have you under contract for 9% and you refinance for 4%).When you say "fees" you mean the mortgagee (me) pays lots of fees (up front) to my original bank? Or you mean the new refinancer pays the original bank the fees so they get money upfront?So there is a legal rule that says banks MUST allow someone to pay off the entire outstanding balance if they have the cash?