Many (if not most) lenders sell their mortgages to bundlers. Small, locally owned banks sometimes prefer to manage their own. That’s the case with our local bank, a small group of about a dozen banks here in southern Ohio
Mine is and was Wells Fargo but it was still classified a Fanny/Freddie. I don’t have any idea what Fanny/Freddie have to do with it. Maybe underwrite it and they didn’t to begin with as far as I know. We were in no danger of defaulting and I don’t think underwater.