What does a mortgage servicer do?
A mortgage servicer manages the daily administration of your loan. This includes collecting payments, maintaining escrow accounts, handling customer inquiries, providing hardship assistance, and ensuring the loan complies with Freddie Mac’s servicing standards. Servicers act as the borrower’s primary point of contact throughout the life of the loan.
Related FAQs
- Why do servicers track borrower payment history?
- How do servicers manage escrow disbursements?
- Why do servicers send annual escrow statements?
- What is a servicing performance review?
- What is escrow management?
- How do servicers handle insurance claims?
- Why did my servicer change?
- Does a servicer change affect my loan terms?
- How do I know a servicer transfer is legitimate?
- Can I choose my mortgage servicer?
- What should I do if I sent a payment to the old servicer after a transfer?
- How do servicers handle customer inquiries?