Foreclosure and Loan Modification Blog

What is a Mortgage Servicer?

When you pay a mortgage on your home every month, it can sometimes seem like there are so many entities involved in the transaction. One entity you consistently keep hearing from is your mortgage servicer. What exactly does your mortgage servicer do?

What Does It Mean To Return Your Mortgage To "Normal Servicing"?

If you want to keep your home after falling behind on your mortgage, your goal should be to find a solution, such as a loan modification, that will return your loan to “normal servicing” and allow you to avoid foreclosure.

What Is Loan Servicing

Loan servicing is the process by which a company collects money from a borrower and manages their loan. Your mortgage loan servicer is the company you send your mortgage payments to. They're like an accounts receivable department that collects your payments and distributes the funds to the investor that owns your loan, collecting a fee for themselves in the process.

You have no say in who services your mortgage, and servicing rights can transfer. One month you're making mortgage payments to Cenlar, the next it's to Ocwen. If you don't like it, too bad. You have no say in the matter.

About this Blog

Amerihope Alliance Legal Services is a leading loan modification and foreclosure defense law firm with attorneys licensed in 5 states. We have helped over 7,000 homeowners fight back and keep their homes.

Click to Read Our Super Loan Mod Success Stories

Our goal is to provide valuable information to help homeowners who are trying to obtain a loan modification or to stop foreclosure. You may schedule a free consultation at any time.

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