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Mortgage Professor about loan servicer: | |||||||||||||||||||||||
Why Is Mortgage Servicing So Bad?
February 3, 2003, Revised December 13, 2004 Dissatisfaction With Mortgage Servicing The letter below is typical of many I have received on this theme. "I have had 3 mortgages by 3 different lenders, and the service I received after the loans closed ranged from poor ... more... Are These Mortgage Late Fees Kosher? November 24, 2000 "I am a mortgage broker who arranged a loan for a client who made a monthly payment on the 16th of the month - one day after the grace period. Without notice, the lender imposed a late charge on that payment, and then proceeded to collect that charge by ... more... |
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loan servicer related definitions |
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Impound
Impound That portion of a borrower's monthly payments held by the lender or servicer to pay for taxes, hazard insurance, mortgage insurance, lease payments, and other items as they become due. Also known as reserves. ... more... Section 8 Homeownership Program Section 8 Homeownership Program - American Dream Commitment Fannie-Mae and Freddie-Mac expand their underwriting requirements necessary for Freddie Mac to purchase mortgages originated under the Section 8 Homeownership Program, and pledge funds in form of Section 8 vouchers, also ... more... |
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