Mortgage Servicing Rights

[Eugine]

Mortgage servicing rights are the rights that are held by a company such as a mortgage lender, bank, or credit union to handle the operational aspects of a mortgage loan. While the details may vary among the different companies that possess mortgage servicing rights, mortgage servicing often includes payment receiving and processing, maintaining and making payments from escrow accounts established for borrower’s property tax, home owner’s insurance and private mortgage insurance. Mortgage servicing rights are a large source of revenue for mortgage servicing companies, yet many borrowers do not fully know or understand just what is involved behind the scenes with a mortgage loan.