An organization which contracts with the Federal government to maintain student loan accounts.
Submenu A servicer is an organization that collects payments on a loan and performs other administrative tasks associated with maintaining a loan portfolio. Loan servicers disburse loans funds, monitor loans while the borrowers are in school, collect payments, process deferments and forbearances, respond to borrower inquiries, and ensure that the loans are administered in compliance with federal regulations and guarantee agency requirements.
An organization that deals with the ongoing process of collecting your monthly mortgage payment, including accounting for and payment of your yearly tax and/or homeowners insurance bills.
The servicer is an organization that is hired by an originating lender or secondary market to manage the day-to-day details of tracking and collecting loan payments. These administrative functions include: Disbursing loan funds Monitoring loans while borrowers are in school Collecting payments Processing deferments and forbearances Responding to borrower inquiries Ensuring that the loans are administered in compliance with federal regulations and guarantee agency requirements Servicers will be the primary contact for borrowers; they can answer questions about the borrower's student loan. Back to Lender Fact Sheet
An organization that administers and collects education loan payments on behalf of the lender.
An organization that contracts with the Department of Education to carry out specified functions such as the handling of various Direct Loan activities.
An organization that provides borrower services and performs administrative functions associated with education loans.
A party who has entered into an agreement with the note holder to service a loan.
A company employed by a lender or a secondary market organization to perform administrative duties, such as billing and collecting student loans. Regardless of who owns or services your loan(s), the terms and conditions under which the loan was originally made remain the same.
An organization that collects mortgage payments from borrowers and manages their escrow accounts.
A company that performs administrative tasks associated with education loans.
A third-party organization that handles all of the paperwork, funds disbursements, and recordkeeping for banks, credit unions and other financial institutions.
a company that handles all payment-related transactions with borrowers
a third party, which holds an escrow on behalf of the borrower to pay taxes and insurance payments to the applicable entities when they become due
An entity designated to track and collect a loan on behalf of a loan holder.
A company that specializes in student loans hired by the lender or secondary market for their billing, collecting, processing of deferment forms, etc. Your student loan account(s) may be assigned to one or more of these servicers.
A company specializing in handling billing, collections, deferments, etc.
State or private agency that processes the borrowerâ€(tm)s payments, forbearances, and deferments, answers the borrowerâ€(tm)s questions, and helps the borrower find options to help with repayment.
An organization hired by a lender or holder to provide loan servicing functions and to work with borrowers on repayment issues. Some organizations, such as Sallie Mae, serve as both the holder and servicer of student loans. You may find that the loan servicer is the most important organization you will work with on your student loans.
An entity contracted to administer and collect your loan for the lender.
A company employed by a lender or secondary market to perform the administrative tasks associated with a loan such as providing disclosure statements or collecting payments on a loan.
The company that handles all the billing, record keeping, and paperwork on the repayment of your education loans on behalf of the lender or holder of the loan.
An organization that collects monthly mortgage principal and interest payments from homeowners and manages escrow accounts for paying taxes and homeowners' insurance premiums. The servicer and the lender are sometimes the same.
The loan servicer is the company that manages the billing of a loan. This company may, or may not, be the same as the original lender. The loan servicer is indicated on billing statements.
A company which handles billing, collections, deferments and other administrative duties for the lender or holder. Many education loan accounts are assigned to servicers.
Organizations, like FISC, that administer and collect loan payments. May be either the loan holder or an agent acting on behalf of the holder.
A company that handles the billing, collections and deferments for a lender. M&T's servicer is Nelnet, in New York and PHEAA in Pennsylvania, Maryland and West Virginia.
Any organization designated to monitor and collect loans on behalf of the holder.
An organization that is contracted to manage student loan accounts. Servicers send out monthly billing statements, process payments, make address changes, process requests for deferments and forbearances, and answer borrower's questions. New Mexico Student Loans is a large servicer in New Mexico. Lender Servicer - NM Student Loans contracts with many financial institutions to service their Federal Stafford student loan portfolio. School Servicer - NM Student Loans contracts with most schools in New Mexico to service their Federal Perkins student loan accounts.
A servicer is an organization that acts on behalf of the lender to administer any aspect of their student loan portfolio and is paid a fee for this service.
the company that handles address updates , refunds, deferements, forbearances, and loan payments on behalf of the lender.
A financial company that collects mortgage payments from borrowers and applies the appropriate amounts to principal, interest and any escrow accounts
An organization (such as Great Lakes Higher Education Corporation or USA Funds) that acts on behalf of the lender or owner of the loan (sometimes referred to as the holder of the loan) to handle the business transactions with the borrower. This may include billing for repayment, processing deferment forms, processing requests for forbearance, sending out notices to borrowers about the status of their loans, and collecting on delinquent accounts. Some lenders service the loans themselves rather than hiring an outside loan servicer.
Company that controls the necessary duties of a mortgagee, such as collecting payments, managing the escrow accounts, dealing with delinquencies, and overseeing foreclosures and payoffs.
An organization that maintains the borrower’s loan account records, sends billing notices and collects student loan. In some cases the lender or the guarantor may be the servicer.
Organization that administers and collects loan payments. May be either the loan holder or an agent acting on behalf of the holder.
After a mortgage loan closes, the loan servicer collects the payments, manages escrow accounts, pays escrowed taxes and insurance, and manages delinquent payments; lenders often release servicing to another business, which means that a homebuyer will not necessarily send house payments to the original lender
company that collects and processes mortgage payments and manages borrowers’ escrow accounts.
A firm that performs servicing functions, including collecting mortgage payments, paying the borrower's taxes and insurance and generally managing borrower escrow accounts.
A company contracted by a lender or holder to perform the administrative tasks such as processing the loan and collecting payments, that are associated with educational loans.
An company that collects payments from borrowers. The Service often services loans that have been purchased by an investor in the secondary loan market.
After the closing of a mortgage loan, the loan servicer collects the payments, manages the escrow accounts, pays escrow taxes and insurance, and manages delinquent payments. Home buyers will not necessarily send house payments to the original lender, as lenders often release servicing to another business
The party paid by the lender to oversee the status of a loan, distribute funds, collect payments, and handle deferments, forbearances, and other related issues.
An organization that collects principal and interest payments from borrowers and manages borrowersâ€(tm) escrow accounts. The servicer often services mortgages that have been purchased by an investor in the secondary mortgage market.
An organization that acts on behalf of a trustee for the benefit of security holders
An organization or company that performs SSCR processing on behalf of schools. While the processing is completed by the servicer, the school is still responsible for SSCR compliance.
A company that collects and processes mortgage payments.
A company hired by the lender to perform account services for its student loans. These services may include application and repayment processing, customer information, and accounting.
An entity which works on behalf of lenders and secondary markets to provide student loan services to borrowers, including loan disbursements, posting of payments, follow-up on delinquent accounts, and answering borrower inquiries.
Private companies that many postsecondary institutions, lenders, guaranty agencies, and secondary markets contract with to handle student loan processing.
An organization that is paid by a lender to administer their student loans.
An organization that maintains a lender's student loan portfolio and is paid a fee to do so.
A financial institution which collects mortgage payments from borrowers and applies the appropriate portions to principal, interest and any escrow accounts.
bank or mortgage company that performs loan administration.
A firm that collects mortgage payments and manages borrowers' escrow accounts.
The servicer is an organization hired by a lender or secondary market to provide day to day processing functions for the student loan program. Loan servicing includes disbursing loan funds, monitoring loans while borrowers are in school, collecting payments, and assisting borrowers during repayment of their loans.
An organization that acts on behalf of the lender to administer a student loan account. Often the borrower deals with the loan service when there are questions about repayment.
The party entrusted with the application of mortgage payments, and the management and disbursement of the mortgage escrow accounts, including collection efforts and legal steps to initiate foreclosure if needed.
An organization that acts on behalf of the lender/holder and conducts certain activities, such as billing students for repayment, processing deferment forms, processing requests for forbearance, sending out notices to borrowers about the status of their loans, and collecting on delinquent accounts. Some holders act as their own servicers rather than hiring an outside loan servicer.
the entity that collects payments and manages escrow accounts of a loan. Often designated when a loan has been purchased by a secondary market investor.
An business hired by a lender or secondary market to handle processing functions on the loan.
The entity responsible for administering your loan. This includes sending coupons/invoices, collecting payments, escrow administration, collections and foreclosures.
An organization that acts on behalf of the lender to administer their student loan portfolio and is paid a fee to do so.
A company that manages customer service on behalf of a lender. Servicers may process loan applications and payments, collect on delinquent accounts, or answer phone calls.
The servicer is an organization that administers the student loan program because of its complexity. Loan servicing includes disbursing loan funds, monitoring loans while borrowers are in school, and assisting borrowers during repayment of their loans.
A company that is hired by the lender or secondary market and that specializes in student loan billing, student loan payment collecting, and processing of deferment forms. Your student loan accounts may be assigned to one or more of these servicers.
Organization that monitors and collects a loan on behalf of the holder. The servicer maintains the borrower's account records and collects the loan according to the guidelines set by the Federal Government. The lender may also service its own loans.
The financial institution that is administering a student loan (billing the borrower and accepting payment).
The group that collects monthly mortgage principal and interest payments from homeowners and manages escrow accounts. It may or may not be the same firm that made the original loan.
The entity which carries out the day-to day collection and enforcement of the receivables which back the finance raised in the securitisation transaction. In many case the originator itself also performs the role of the servicer.
The party responsible for collecting payments, managing borrower's escrow accounts, and paying taxes and insurance from the funds collected in escrow.
Many lenders and secondary markets hire companies that specialize in student loans to handle billing, collections, deferments, etc. Student loan accounts are often assigned to a servicer.
An organization that collects principal and interest payments from borrowers and manages borrowers' tax and insurance escrow accounts. A mortgage banker is often paid a fee to service mortgages that have been purchased by an investor in the secondary mortgage market.
Firm used to collect mortgage payment and to manage borrowers' escrow accounts.
Institution acting for the benefit of the certificate holders in the administration and servicing of mortgage loans in the CMBS. Functions include reporting to the Trustee, collecting payments from borrowers, advancing funds for delinquent loans, negotiating workouts or restructures (as permitted by the PSA), taking defaulted loans through the foreclosure process, and liquidating defaulted loans and REO.
The party who has entered into an agreement with the insured to service a loan.