Loan administration definition

Loan administration means a lender’s processing of a loan and includes review, underwriting and evaluation of the loan application, document processing and preparation and adminis- tration of the loan closing, but does not include appraisals, inspec- tions, surveys, credit reports or other activities incidental to loan origination and normally taking place outside the office of the lender or performed by 3rd persons.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Loan administration means a lender’s processing of a loan and includes review, underwriting and evaluation of the loan application, document processing and preparation and adminis- tration of the loan closing, but does not include appraisals, inspec- tions, surveys, credit reports or other activities incidental to loan

Loan administration. Although electronically interfaced with Origen Financial's loan origination system, Origen Servicing, Inc. manages the loading of each loan into its servicing system to ensure the quality of information. - Customer Service. Origen Servicing, Inc. performs all customary customer service functions, including answering general questions from obligors, processing pay-off requests and updating customer information. - Payment Processing. Origen Servicing, Inc. posts and tracks all incoming payments utilizing a bank lock-box arrangement for daily electronic data transfer. Origen Servicing, Inc. also manually processes those payment that it receives directly. - Claims. Origen Servicing, Inc. manages all insurance-related claims through a vendor. Where necessary, Origen Servicing, Inc. will force place hazard insurance, and a monthly charge is then added to the obligor's monthly payment to cover the premium. - Titling. Origen Servicing, Inc. ensures that all title documents for manufactured homes securing contracts are properly recorded and documents. - Imaging. Origen Servicing, Inc. scans all critical documentation and makes data available electronically to all employees with appropriate security access typically within 24 to 72 hours of its receipt of the documentation. Origen Servicing, Inc. has imaged all documentation for all loans Origen Financial has originated since inception. DEFAULT AND DELINQUENCY SERVICES. - Dialer Operations. Origen Servicing, Inc. uses predictive dialing campaigns to collect on loans particularly in the early stages of delinquency. Origen Servicing, Inc. begins predictive dialing activity between three days and three weeks after a missed payment.

Examples of Loan administration in a sentence

• Loan administration duties shall include approving or disapproving loan applications, loan origination and closing, providing proper disclosures under federal and state laws, notifying borrowers of default, and collecting current and past due payments.

• Loan administration shall be conducted in accordance with the applicable Plan document and the loan policies drafted by the Contractor and approved by the County, to include loan repayments by terminated participants via coupon processing.

• Loan administration duties shall include, but are not limited to: approving or disapproving loan applications from Participants, loan origination and closing, providing proper disclosures to Participant borrowers under applicable federal and state lending laws, notifying Participant borrowers of default, and collecting current and past due payments on such loans.

• The Operator’s Fee shall mean a one-off fee charged upon the agreement between the Operator and the Borrower, which the latter shall pay to the Operator for the Loan administration services under the present Agreement and the Loan Agreement until the obligations under the Loan Agreement have been discharged in full.

• Loan administration fees are amortized over the term of the loan using the effective interest method.

• Those services shall include, without limitation, the handling of such matters as: closing of purchases of Mortgage Loans; safe-keeping and administration of Mortgage Loan Documents; processing of and record-keeping for Mortgage Loan payments; insurance; government reporting; Mortgage Loan administration and collection; and compliance with this Agreement.

• Those services shall include, without limitation, the handling of such matters as: safe-keeping and administration of Mortgage Loan Documents (other than those which have been delivered to Bank or any Custodian); processing of and record-keeping for Mortgage Loan payments; insurance; government reporting; Mortgage Loan administration and collection; and compliance with this Agreement with respect to the Pledged Mortgage Loans.

• The Agent may, other than for purposes of normal Loan administration, employ agents and attorneys-in-fact and shall not be answerable, except as to money or securities received by it or its authorized agents, for the negligence or misconduct of any such agents or attorneys-in-fact selected by it with reasonable care.

• Copies of all notices sent by Landlord or Tenant shall be sent to Lender at GMAC Commercial Mortgage Corporation, ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇, Horsham, PA 19044-8015, Attention: Executive Vice President, Commercial Loan Servicing, with copies to Commercial Capital Initiatives, Inc., Wall Street Plaza, ▇▇ ▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇ ▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: Manager - Loan administration and Pepe & Hazard LLP, ▇▇▇▇▇▇▇ Square, ▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇, ▇▇ ▇▇▇▇▇, Attention: ▇▇▇▇ ▇.

• A Loan Interest Rate Spread (which is the difference between the rate charged and the rate credited on loans under your contract) or an Annual Loan administration fee is charged until the loan is repaid.

More Definitions of Loan administration

Loan administration fees: $300.00 payable monthly.

Loan administration. Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ U.S. BANK NATIONAL ASSOCIATION By: /s/ ▇▇▇▇▇ ▇▇▇▇▇▇▇ ------------------------------------- ▇▇▇▇▇ ▇▇▇▇▇▇▇ for ▇▇▇▇ ▇▇▇▇▇▇▇▇ Title: Assistant Relationship Manager ----------------------------------- Address for domestic notices: U. S. Bank National Association ▇▇▇ ▇.▇. ▇▇▇ ▇▇▇▇▇▇, ▇▇-▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ Attn.: ▇▇▇▇ ▇▇▇▇▇▇▇▇, Vice President Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ Address for eurodollar notices: U. S. Bank National Association ▇▇▇ ▇.▇. ▇▇▇ ▇▇▇▇▇▇, ▇▇-▇ ----------------------------------------- ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇ ▇▇▇▇▇ ----------------------------------------- Attn.: ▇▇▇ ▇▇▇▇, Participation Specialist ------------------------------------ Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ ------------------------------ Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ ------------------------------ -82- LENDER'S SIGNATURE PAGE $2,000,000,000 CREDIT FACILITY THE PEOPLES BANK, BILOXI, MISSISSIPPI By: /s/ ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ------------------------------------- ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ Title: Senior Vice President ---------------------------------- Address for notices: The Peoples Bank, Biloxi, Mississippi ▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn.: ▇▇▇▇▇▇ ▇. ▇▇▇▇▇ ----------------------------------- Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ ------------------------ Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ ------------------------ -83- LENDER'S SIGNATURE PAGE $2,000,000,000 CREDIT FACILITY ▇▇▇▇▇▇▇ BANK By: /s/ ▇▇▇▇ ▇. ▇▇▇▇ ------------------------------------- Title: Senior Vice President ---------------------------------- Address for notices: ▇▇▇▇▇▇▇ Bank ▇▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Mail: ▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn.: ▇▇▇▇ ▇. ▇▇▇▇, Senior Vice President Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ TRUSTMARK NATIONAL BANK By: /s/ ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ---------------------------------------- Title: Vice President ------------------------------------- Address for notices: Trustmark National Bank ▇▇▇ ▇▇▇▇ ▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn.: ▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇ ------------------------------------- Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ --------------------------------- Telephone: (▇▇▇) ▇▇▇-▇▇▇▇ --------------------------------- HIBERNIA NATIONAL BANK By: [ILLEGIBLE] --------------------------------------- Title: Vice President ------------------------------------ Address for notices: Hibernia National Bank ▇▇▇ ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇▇▇▇, ▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇ Attn.: ▇▇▇▇▇ ▇▇▇▇▇▇▇▇, Commercial Banking Dept. Facsimile: (▇▇▇)...

Loan administration. Facsimile: (▇▇▇) ▇▇▇-▇▇▇▇ with a copy to: ▇▇▇▇▇▇▇ ▇▇▇▇▇▇▇▇ & Wood ▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇ ▇▇▇▇▇▇ ▇▇▇ ▇▇▇▇, ▇▇▇ ▇▇▇▇ ▇▇▇▇▇ Attention: ▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇▇, Esq. Facsimile No.: (▇▇▇) ▇▇▇-▇▇▇▇ Each party may establish a new address from time to time by written notice to the other given in accordance with this section; provided, however, that no such change of address will be effective until written notice thereof is actually received by the party to whom such change of address is sent. Notice to additional parties now or hereafter designated by a party entitled to notice are for convenience only and are not required for notice to a party to be effective in accordance with this section.