loan servicer
Payment processing intermediary
A loan servicer is a company that handles the day-to-day administration of a loan after it's been issued.
The servicer collects monthly payments, manages escrow accounts, sends statements, and fields borrower questions—even though they typically don't own the loan itself.
Mortgages are frequently sold between lenders, but the servicer remains the borrower's point of contact: I called my loan servicer about the payment error.
- mortgageSecured home loan
- paymentFulfilling a financial obligation
- escrowConditional third-party deposit
- escrow accountNeutral fund holding
- foreclosureLender seizes mortgaged property
billing · debt · statement · default · collections · credit report · forbearance · modification · principal · interest · amortization · delinquent · autopay · toll-free number · customer complaint · refinance · balance · account
- mortgagesfixed-rate mortgage, mortgage broker, adjustable-rate mortgage, mortgage payment, mortgage insurance
- federal loansfederal aid, FAFSA, federal grants, Pell Grant
- loan partiesborrower, lender, cosigner, creditor, debtor