Loan servicer

Loan servicer

A loan servicer is a public or private entity that handles the following tasks:
* Collecting, monitoring and reporting loan payments
* Handling property tax
* Handling insurance escrows
* Foreclosing defaulted loans
* Handling late payments and other delinquencies
* Remitting paymentsA loan servicer may also assist in loan origination

ervicing Fee

A servicer earns a servicing fee in return for performing the administration functions described above, typically a percentage of the loan's Unpaid Principal Balance

ub Servicer

In some cases a servicer outsources some of the administrative functions to another party, the Sub Servicer, while retaining financial responsibility

ervicer License

In the United States of America, a Servicer needs a license

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