Why do mortgage companies want you to refinance?
That would explain Bank of America's willingness to refinance your mortgage. They can make money on closing costs (again) and make money by selling it off again or by servicing the loan. If they actually hold onto the mortgage the second time around, they may not want to refinance it again in the future.
Why Do Mortgage Companies Want You to Refinance So Badly ...
Jun 26, 2018