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What is the difference between a mortgage lender and a servicer?
Posted : 28/04/2024 3:13 pm
A mortgage lender is a financial institution that lends money to borrowers to purchase a home, while a mortgage servicer handles the payment processing and is the company that sends the monthly statements to the borrower. A mortgage lender or bank can be both the loan provider and the servicer of the mortgage, but the roles are often done by different companies.
Posted : 30/04/2024 10:09 pm