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- The tasks a lender performs to protect the mortgage investment, including the collection of mortgage payments, escrow administration, and delinquency management.
Federal Trade Commission - Cite This Source - This Definition
- The responsibility of collecting monthly mortgage payments and properly crediting them to the principal, taxes and insurance, as well as keeping the borrower informed of any changes in the status of the loan.
Ginnie Mae - Cite This Source - This Definition
- The collection of mortgage payments from borrowers and related responsibilities of a loan servicer.
US Department of Housing and Urban Development - Cite This Source - This Definition
- Same as "mortgage servicing." See also "mortgage servicing."
U.S. Census Bureau - Cite This Source - This Definition
- Buydown, Co-Signed Account, Escrow, Escrow Account, Escrow analysis, Impound account, Individual retirement account (IRA), inflation, Lease Purchase (Lease Option), Servicer, Trust account, Vested