Definitions for "Loan servicing"
The process of collecting and managing monthly payments. Often a separate company, a loan servicer processes the payments, sends statements, manages the escrow/impound accounts and makes sure that taxes and insurance premiums made on time.
The act of collecting loan payments, handling property tax and insurance escrows, foreclosing on defaulted loans and remitting payments to the investors.
The act of collecting and applying regular payments, paying taxes and insurance, and performing collection and foreclosure activities as they relate to mortgage loans.
Activities undertaken to maintain a loan. Applies to both FFEL and Federal Direct Loans, as well as Federal Perkins loans.
Keywords:  administration, see
See Loan Administration.