Earn your degree from industry experts at University of Phoenix. Servicers are also responsible for processing and applying payments to the mortgage and mailing out escrow payments on behalf of the borrower. Mortgage servicers may provide customer service to consumers once a mortgage is in place, answering questions about rates, billing or any other concern. Once the papers are signed, processors are responsible for recording the home mortgage loan quote with state or country government, filing or scanning loan documents, and incorporating the loan information into the lender’s database for billing. Once a loan is approved and the customer accepts the terms, processors create the loan paperwork that will be used to make the loan legal and binding.
Business30 Dec 2009 10:10 pm
