Examples of Mortgage loan servicing in a sentence
Mortgage loan servicing income is recorded in noninterest income as a part of other service charges and fees and amortization of the servicing assets is recorded in noninterest income as part of other income.
Mortgage loan servicing rights purchased or originated are amortized against mortgage banking income using a method which approximates the level yield method in proportion to, and over the period of, estimated net servicing income.
Mortgage loan servicing rights of $1,019,000 and $1,023,000 at December 31, 1996 and 1995, respectively, are included in other assets in the accompanying balance sheets.
Mortgage loan servicing is the least-regulated part of the entire mortgage market.
The unpaid principal balances of these loans are summarized as follows: December 31, ------------------- 2003 2002 ------------------- (in thousands) Mortgage loan servicing portfolios FHLMC $2,018 $3,758 Other investors 5,367 8,203 ------------------- $7,385 $11,961 =================== Custodial balances maintained in connection with the foregoing loan servicing totaled approximately $80,000, and $149,000 at December 31, 2003 and 2002, respectively.
Mortgage loan servicing income totaled $21 thousand, $23 thousand and $22 thousand for 1996, 1995 and 1994.
Mortgage loan servicing fees, which are based on a percentage of the principal balances of the loans serviced, are credited to income as loan payments are collected.All separately recognized servicing assets and servicing liabilities are initially measured at fair value.
Mortgage loan servicing costs were primarily for servicing fees, foreclosure fees and advances of residential property insurance.
Mortgage loan servicing fees were $63,000, $87,000 and $96,000 in 1998, 1997, and 1996, respectively.
Mortgage loan servicing is generally permitted post-discharge, and a creditor may send potentially helpful informational statements to a discharged debtor.