Services a loan definition

Services a loan or “servicing a loan” means undertaking the direct collection of payments on a loan from the borrower or the right to undertake direct collection of payments on a loan from the borrower.
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Services a loan or “servicing a loan” means undertaking the direct collection of payments on a loan from the borrower or holding the right to undertake direct collection of payments on a loan from the borrower. Undertaking the direct collection of payments means receiving any scheduled periodic payments from a borrower pursuant to the terms of any federally related mortgage loan. Holding the right to undertake direct collection of payments means holding the right to service a loan, including where the holder of this right contracts with or otherwise arranges for another person to service the loan.
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Related to Services a loan

  • Collection Services means all of the duties and obligations of the Contractor hereunder.

  • Transition Services Agreement means the transition services agreement substantially in the form attached hereto as Exhibit B.

  • Hosting Services means the provision, administration, and maintenance of servers and related equipment, the provision of bandwidth at the hosting facility, and the operation of the Application for access by Customer Users to be provided by the relevant hosting service provider.

  • Application Services means the hosted applications and related services as described in Exhibit A.

  • Financial Services Provider means any Lender and any other provider of financial services or products;