Loan servicing is the day-to-day management of a loan after it's made — taking payments, tracking the balance, and handling questions.
Loan servicing is the administration of a loan after origination, including payment collection, recordkeeping, escrow management, and borrower communication.
Who services your loan affects your ongoing experience — where you send payments and who you contact if circumstances change.
The institution you send your monthly payment to is handling loan servicing.
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