Servicing Agent
Definition of "Servicing Agent"
The party who services a loan, who may or may not be the lender who originated it.
Popular Mortgage Terms
The payment of principal and interest made by the borrower. ...
Limit on the size of payment change on an adjustable rate mortgage. ...
A borrower who doesn't pay. ...
Equations used to derive common measures used in the mortgage market, such as monthly payment, balance, and APR. ...
The interest rate used in calculating the initial mortgage payment in qualifying a borrower. The rate used in qualifying borrowers may or may not be the initial rate on the mortgage. On ...
A documentation rule where the borrower discloses assets and their source but the lender does not verify the amount. ...
In connection with a home, the value of the home less the balance of outstanding mortgage loans on the home. ...
You’ve certainly heard a lot about Credit Score and might even have a general idea about its meaning, but if you came to this page you still have some doubts about what is a credit ...
The maximum allowable increase in the interest rate on an ARM each time the rate is adjusted. It is usually one or two percentage points. ...
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