Servicer

A firm that performs servicingThe tasks a lender performs to protect the mortgage investment, including the collection of mortgage payments, escrow administration, and delinquency management.... functions, including collecting mortgageA loan using your home as collateral. In some states, the term mortgage is also used to describe the document you sign (to grant the lender a lien on your home). It also may be used to indicate the amount of money you borrow, with interest, to purchase your house. The amount of your mortgage often is the purchase price... payments, paying the borrower’s taxes and insuranceFunds collected as part of the borrower’s monthly payment and held in escrow for the payment of the borrower’s or funds paid by the borrower for, state and local property taxes and insurance premiums.... and generally managing borrower escrowAn item of value, money, or documents deposited with a third party to be delivered upon the fulfillment of a condition. For example, the deposit by a borrower with the lender of funds to pay taxes and insurance premiums when they become due, or the deposit of funds or documents with an attorney or escrow agent to be disbursed upon... accounts.