Mortgage Glossary
Servicer
Defined by Onias Derilus, Mortgage Capital · NMLS# 1859012 · Florida licensed mortgage broker
A servicer is the company that collects your mortgage payments, manages escrow, and handles customer service after the loan closes.
What Servicer means
The servicer may differ from the original lender, since loans are often sold. They process payments, pay taxes and insurance from escrow, and manage any hardship requests.
Florida example
A Florida borrower's loan may be sold to a national servicer shortly after closing. The rate and terms stay the same; only where they send the payment and who they call for help changes.
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