A term referring to the steps taken to maintain a loan from the time it is closed until the last payment is received and the obligation is paid. Steps may include billing the borrower, collecting payments, escrowing tax and insurance payments, and making contract changes.
The responsibility of collection of mortgage payments from borrowers.
Supervising a loan after it has been made. This could involve collecting payments, keeping accounting records, computing interest and principal, etc.
The collection, bookkeeping and follow-up of a loan while in repayment.
Once a borrower obtains a loan, the institution that collects payments is responsible for processing payments, sending statement, managing escrow/impound accounts, handling collection efforts in the event of a delinquent loan, ensuring that insurance and property taxes are up-to-date, handling pay-offs and assumptions and other tasks. This is all part of "servicing" a loan.
Maintaining all the records and payments of a loan.
Act of collecting loan payments, disbursing property taxes and insurance from escrow, foreclosing on defaulted loans, and remitting payments to investors.
refers to handling billing, collecting payment and paperwork, associated with on-going mortgages.
The function of collecting loan payments, managing the property tax and insurance escrows, foreclosing on defaulted loans and remitting payments to the investor/beneficiary.
The application of mortgage payments from borrowers and related responsibilities, including collection efforts when necessary.
The collection of mortgage payments from borrowers and related responsibilities (such as handling escrows for property tax and insurance, foreclosing on defaulted loans and remitting payments to investors).
Collecting principal, interest, and sometimes property taxes from the borrower; accounting for the amount received; and remitting the payment to the lender.
The tasks a lender performs to protect a mortgage investment, including collecting monthly payments from borrowers and dealing with delinquencies.
The ongoing process of collecting your monthly mortgage payment, including accounting for and payment of your yearly tax and/or homeowners insurance bills.
The processing of payments, mailing of monthly statements, management and disbursement of escrow funds etc Typically carried out by the company you make payments to.
The collection of mortgage payments from borrowers and related responsibilities such as following up on past-due payments.
"After you obtain a loan, the company you make the payments to is ""servicing"" your loan. They process payments, send statements, manage the escrow/impound account, provide collection efforts on delinquent loans, ensure that insurance and property taxes are made on the property, handle pay-offs and assumptions, and provide a variety of other services."
The acts performed to collect and process loan payments during the life of a loan. They include billing the borrower; collecting payments of principal, interest, and payments into an escrow account; disbursing funds from the escrow account to pay taxes and insurance premiums; and forwarding funds to an investor if the loan has been sold in the secondary market.
After a loan is granted, it must be maintained by the lender to ensure the loan terms are met. Servicing a loan involves collecting payments, keeping accounting records, computing interest and principal, etc.
After you obtain a loan, the company you make the payments to is "servicing" your loan. The loan company processes payments, sends statements, manages the escrow, provides collection efforts on delinquent accounts, ensures that insurance and property taxes are made on the property, and so on.
The administration of loans after their closing. Servicing includes collecting mortgage payments, maintaining escrows, dealing with borrowers that are in default, and making periodic property inspections.
The collection of mortgage payments from borrowers and related responsibilities of a loan servicer.
A mortgage banking function which includes the receipt of payments, customer service, escrow administration, investor accounting, collections and foreclosures.
A service performed by a lender to protect a mortgage investment, including collecting monthly payments from borrowers and dealing with delinquencies.
This is the company that collects your payments, answers your questions and pays your property taxes and homeowners insurance. It may be the lender you have when your loan closes or it could be another company that they have sold the servicing rights to.
All the steps taken to maintain a loan, from the time it is made until the last payment is received and the loan instruments are canceled.
All the steps taken to maintain a secure position of the lender from the time loan is originated until the last payment is made. The process includes recording payments, analyzing escrow, preparing statements and handling collections.
Handling paperwork of collecting loan payments, checking property tax and insurance coverage, handling delinquencies.
The acts of collection of loan payments, property tax and escrows, foreclosing on defaulted loans, remitting payments.
Loan servicing is the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers. The level of service varies depending on the type loan and the terms negotiated between the firm and the investor seeking their services.