Welcome to the exciting, complex, rewarding and ever-changing world of mortgage servicing. The servicing (or loan administration) department creates income for the lender while servicing loans. Some loans remain active for the full loan term; however, most loans are paid in full within a few years due to a sale of the property or a refinance. Mortgage loans may also be generated and sold to investors. Lenders then recover the funds used to create the loan to the borrower. Mortgage servicers must understand these aspects of the loan cycle and more. In AllRegs Academy’s Mortgage Servicing Practical Guide, you’ll find the basic information needed for all employees interested in learning more about this vital aspect of the mortgage industry. Seasoned employees will refresh and enhance their knowledge, while new employees will gain an overall understanding of loan administration.
In this searchable, online guide, you’ll learn about the various roles and responsibilities of the mortgage servicer, as well as the numerous aspects of the loan cycle important to servicing professionals. In addition, you’ll learn about the Federal and State laws that have been enacted over the years governing many aspects of loan servicing. Written by industry experts with a combined 60 years of experience, the information provided in this guide is linked to additional, supplemental information available through AllRegs.
