Why would they?

If they carry the note and you haven't missed a payment in years what's the need if they are simply reducing your overall obligation? No need to requalify at that point.

If you lost your job or your income has decreased they would only be doing you a favor and decreasing your statistical chance of default. If those things happened they'd be out anyway since they hold the paper.

Even though it might be prudent to check in on those things they are probably just trying to retain your good business and keep you from moving to a competitor.

If you're on a 30yr fixed note you should be getting lower than 5%.

More like 4.25%