Residential mortgage loan servicing definition

Residential mortgage loan servicing means receiving any scheduled periodic payments from a borrower pursuant to the terms of any federally related mortgage loan, including amounts for escrow accounts under section 10 of the Real Estate Settlement Procedures Act [12 U.S.C. 2609], and making the payments to the owner of the loan or other third parties of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the mortgage servicing loan documents or servicing contract. In the case of a home equity conversion mortgage or reverse mortgage as referenced in this section, servicing includes making payments to the borrower.
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Residential mortgage loan servicing means receiving any scheduled periodic
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Examples of Residential mortgage loan servicing in a sentence

  • The job seems to have been delayed, so that on 15 December 2017, Mr Dubois sent a further email requesting quotes (Show Page 23).

  • All documents that evidence a financial commitment made to protect a rate of interest during a rate lock period.(4) Residential mortgage loan servicing documents.(a) You must maintain servicing agreements as part of your re- cords.(b) You must maintain all notices from GSEs, if applicable, that relate specifically to your loan servicing activities.

  • Residential mortgage loan servicing fees were $7.3 million in the third quarter of 1998, compared with $6.2 million in the year-earlier quarter and $7.8 million in the second quarter of 1998.

  • Residential mortgage loan servicing involves performing certain loan administration functions, including collecting mortgage payments, disbursing principal and interest payments to investors, maintaining tax and insurance escrow accounts, and managing delinquent loans and foreclosed properties.

Related to Residential mortgage loan servicing

  • Residential mortgage loan means any loan primarily for

  • Mortgage Servicing Rights The rights and responsibilities of Seller with respect to servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, Ancillary Income, reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable, all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing.

  • Mortgage servicer means the mortgagee or a person other than the mortgagee to whom a mortgagor or the mortgagor’s successor in interest is instructed by the mortgagee to send payments on a loan secured by the mortgage. A person transmitting a payoff statement for a mortgage is the mortgage servicer for purposes of such mortgage.

  • Conventional Mortgage Loan Any Mortgage Loan that is not an FHA Loan.

  • Registered mortgage loan originator means any individual who:

  • Mortgage loan originator means any institution which originated a Mortgage Loan for a related Borrower.