I started getting calls from past customers about a month ago wanting to know if refinancing their mortgage is something they should consider. Given that I'm not in the mortgage business any longer and don't have access to rate information, I suggested for anyone that is considering refinancing, they call their existing servicer first to see what kind of deal they could offer them.

In the past few days, I have gotten calls from two customers saying that they refinanced with their existing servicer. In both of these cases, they were not charged an fees other than the cost of a drive by appraisal.

I looked at both of the closing statements and there are no title fees or lender fees. Additionally, it does not appear that they have increased the loan balance to absorb the fees.

Just as a point of reference, Citi Bank refi'd one of the notes, Chase refi'd the other. Both of these customers have been in their current mortgages greater than twelve months.

It appears to me that the banks are becoming very aggressive at retaining the servicing of their portfolio for loans that are current and paid on time.

If you are considering refinancing your mortgage, check with the servicer of your note first, it could save you thousands of dollars in fees that you would otherwise spend if you went through other sources.