The Servicing Department is responsible for managing the ongoing administration of mortgage loans after they have been originated and closed. This department handles a range of tasks, including collecting monthly payments from borrowers, maintaining accurate loan records, and managing escrow accounts for taxes and insurance. Servicing professionals also handle customer inquiries, process payoff requests, and facilitate loan modifications or forbearance agreements as needed. They play a critical role in ensuring borrower satisfaction, minimizing delinquencies and defaults, and maintaining compliance with industry standards and regulations. Through their efficient and effective management of mortgage loans, the servicing department helps support the company’s reputation and long-term success in the mortgage industry.
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