Definitions for "servicer"
An organization which collects principal and interest payments from borrowers and manages their escrow accounts.
A company that collects principal and interest payments from borrowers and manages borrowers' escrow accounts. The servicer may or may not be the original lender.
Servicer of a loan collects monthly payments from the borrower. When a lender sells a loan to an investor they may or may not sell the servicing on the loan. Therefore if a mortgage is obtained from a lender, and if that lender sells the loan to Fannie Mae, the lender may retain the right to service the loan and collect monthly payments. The sale of the loan does not affect the borrower in any way. The lender could also choose to sell the servicing on a loan, in which case the borrower would make payments to a different servicer.
Keywords:  wala, upb, wac, entity, warm
Entity under contract to a lender or agency to perform account servicing functions.
The WAC, highest and lowest note rates, WALA, highest and lowest age, WARM, highest and lowest remaining maturity, number of mortgages, percentage of mortgages, and percentage of the aggregate UPB of the mortgages in each entity that services at least 1% of the mortgages in a PC pool (updated to reflect transfer of servicing). Entities servicing less than 1% of the mortgages in a PC pool are reflected under the heading 'Servicers1%' (updated monthly).
An entity that enters into a contract with a program participant to administer any aspect of its participation in a Title IV program.
An institution approved to service mortgages funded or purchased by an MPF Bank. The term “servicer” as used refers to a servicer acting in its capacity as a servicer of mortgages for an MPF Bank under a PFI Agreement.
One who performs the act of servicing. Frequently a person who does so on a commercial and large volume basis.