What's the difference between a mortgage lender and a servicer? | Consumer Financial Protection Bureau (2024)

Your loan servicer typically processes your loan payments, responds to borrower inquiries, keeps track of principal and interest paid, manages your escrow account (if you have one). The loan servicer may initiate foreclosure under certain circ*mstances. Your servicer may or may not be the same company that originally gave you your loan.

What's the difference between a mortgage lender and a servicer? | Consumer Financial Protection Bureau (2024)
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