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(A servicer is different from a mortgage originator. You might, say, have taken out a mortgage from Countrywide.
A servicer might, for example, deny a loan modification to a borrower because it also owns a second mortgage on the same property and doesn't want to write down that asset, as required in a modification.
A servicer would then have the option, on behalf of all bondholders, to modify loans one by one, and keep the securitization in place, or to sell the entire pool for the best price.
Because a servicer has very different incentives.
What's the difference between a mortgage lender and a servicer?
The company also acts as a servicer and collector for loans made by banks and the federal government.
Similar(7)
This a service economy.
It's a service.
I provide a service.
They are a service industry.
A service will be scheduled.
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