Loan Servicing

Business, Legal & Accounting Glossary

Definition: Loan Servicing


Loan Servicing


Full Definition of Loan Servicing


The process a lending institution goes through for all loans it manages. This involves processing payments, sending statements, managing the escrow/impound account, providing collection services on delinquent loans, ensuring that insurance and property taxes are made on the property, handling pay-offs and assumptions, as well as various other services.


Cite Term


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https://payrollheaven.com/define/loan-servicing/
Modern Language Association (MLA):
Loan Servicing. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
March 29, 2024 https://payrollheaven.com/define/loan-servicing/.
Chicago Manual of Style (CMS):
Loan Servicing. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/loan-servicing/ (accessed: March 29, 2024).
American Psychological Association (APA):
Loan Servicing. PayrollHeaven.com. Retrieved March 29, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/loan-servicing/

Definition Sources


Definitions for Loan Servicing are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 20th November, 2021 | 0 Views.