A loan servicer is a company responsible for collecting and managing loan payments, managing escrow accounts, and handling other administrative aspects of a loan portfolio.
A mortgage banker originates, sells, and services mortgage loans, playing a crucial role in the real estate financing landscape by facilitating access to home loans and managing mortgage-backed securities.
Mortgage servicing involves the management of a mortgage loan, from collecting payments to ensuring that taxes and insurance are paid. It includes administrative tasks completed by a mortgage banker or a third-party servicer.
