What Does Loan Servicing Include?
Usually, loan servicing includes sending monthly payment statements and invoices, collecting monthly payments from the borrower, managing escrow accounts, keeping records of payments and balances, collecting taxes and insurance payments, managing delinquencies, communicating with borrowers, and other activities as required to manage the mortgage loan.
- What Is Loan Servicing?
- Which Servicing Companies Are Considered to Be the Best?
- What Happens After I Get the Loan?
- What Happens if My Mortgage Is Sold to a New Owner and the Mortgage Servicer Changes?
- What Are the Parties Involved in the Loan Servicing Process?
- What Type of Entities Are Mortgage Servicing Companies?
- Is There Any Difference Between a Bank and a Non-Bank Mortgage Servicer?
- What Are the Differences Between a Mortgage Lender and a Mortgage Servicer?
- How Do Mortgage Servicers Make Money?
- What Is a Small Servicer and Why Does It Matter?
- How Is the Quality of Mortgage Servicing Overall?