Loan modification in the United States — Loan modification, the systematic alteration of contactual mortgage loan agreements, has been practiced in the United States since the 1930s. During the Great Depression loan modification programs took place at the state level in an effort to… … Wikipedia
Loan Servicing — The administration aspect of a loan from the time the proceeds are dispersed until the loan is paid off. This includes sending monthly payment statements and collecting monthly payments, maintaining records of payments and balances, collecting… … Investment dictionary
servicer — noun One who services a loan or other obligation, by collecting receivables and carrying out related actions such as enforcement … Wiktionary
Mortgage loan — Mortgage redirects here. For other uses, see Mortgage (disambiguation). Finance Financial markets … Wikipedia
National Student Loan Data System — The National Student Loan Data System (NSLDS) is the U.S. Department of Education’s (ED) central database for federal student aid.[1] NSLDS receives data from schools, guaranty agencies, the Direct Loan program, and other Department of ED… … Wikipedia
Mortgage servicer — A mortgage servicer is the company that borrowers pay their mortgage loan payments to. Mortgage servicers either purchase or retain mortgage servicing rights that allow them to collect payments from borrowers in return for a servicing fee. The… … Wikipedia
Special servicer — The term Special Servicer refers to companies that have specialized processes in place to deal with loans that require unusual attention, i.e., currently in or about to go into default. Special Servicers can obtain the loans themselves or just… … Wikipedia
Real Estate Settlement Procedures Act — The Real Estate Settlement Procedures Act , (known as RESPA ), was an Act passed by the United States Congress in 1974. It is codified at Title 12, Chapter 27 of the United States Code, UnitedStatesCode|12|2601|2617.PurposeIt was created because… … Wikipedia
MERS — This article is about the company. For the Mers ethnic group, see Mers. Mortgage Electronic Registration Systems, Inc. Type Privately held company Founded 1995 Headquarters Reston, Virgini … Wikipedia
Forced Place Insurance — The insurance that a lien holder places on a property, to provide coverage in the event the borrower allows coverage to lapse. Forced place insurance is intended to ensure that the property remains insured, protecting both the homeowner and the… … Investment dictionary
