Loan Servicing

Loan servicing involves managing the day-to-day administration of a loan after it’s been issued. This includes collecting monthly payments, calculating interest and principal amounts, maintaining records, and addressing borrower inquiries. Servicers also handle escrow accounts for property taxes and insurance, and manage any customer service issues. Essentially, loan servicing ensures the loan runs smoothly, payments are made on time, and all related financial activities are properly managed throughout the loan's term.