Mortgage servicing
Mortgage servicing
Mortgage servicing is the process of managing the administrative details of a mortgage loan. These details include collecting principal and interest payments, forwarding repayments to the mortgage lender (if the lender is not the servicer), managing escrow accounts, making payments to insurance companies and tax collectors, etc. Mortgage servicers earn a fee. Also, the rights to service a loan can be bought and sold, just as the loan itself can be bought and sold.
6.06
