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Glossary

A glossary is a dictionary of terms specific to a certain subject. A biology textbook might have a glossary in the back, so you can quickly look up all those technical words.

Loan Servicing

Updated on 2023-08-29T11:57:14.096155Z

Loan servicing is the process by which a company such as a mortgage bank or any servicing firm collects principal, interest, as well as escrow payments from a borrower.

Loan servicing involves collecting monthly payments and sending the same, maintaining records of balances and payments, taxes and insurance payment and collection, remitting assets to the note owner, and following up on delinquencies.

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