What is Servicer?
A servicer is a company that handles the day-to-day administration of your mortgage loan, including payment collection and escrow management.
A servicer is the company that manages your mortgage after closing. It collects payments, manages escrow accounts, handles customer service, and pursues foreclosure if necessary. Borrowers meet the servicer because the original lender or broker may transfer servicing rights to another company. Watch for notices of servicing transfers and verify that payments go to the correct address. The servicer is not necessarily the lender or investor that owns the loan. Keep records of all payments and communications with the servicer.
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