Review:
Mortgage Servicing
overall review score: 4.2
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score is between 0 and 5
Mortgage servicing is the administration of a mortgage loan. It involves collecting payments, managing escrow accounts, handling loan modifications, and communicating with borrowers.
Key Features
- Payment collection
- Escrow account management
- Loan modifications
- Customer communication
Pros
- Helps borrowers manage their mortgage payments
- Can assist with loan modifications to prevent foreclosure
Cons
- Some servicing companies have been known to have poor customer service
- Borrowers may face challenges in dealing with multiple servicing transfers