Loan Servicer


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Loan Servicer

A person assigned to collect debt service payments on behalf of a bank or other financial institution.
References in periodicals archive ?
Cameron, a former executive responsible for compliance at a student loan servicer that has been accused of cheating thousands of students and taxpayers, is an outrageous slap in the face to student loan borrowers across the country."
Nelnet, another student loan servicer that recently acquired Great Lakes, declined to comment.
RSLFC is based in Aberdeen, SD and is a highly respected student loan originator and loan servicer with over 40 years of experience in all aspects of student lending.
Jacobov purchased the center last month from CIII Asset Management, a loan servicer that foreclosed on the previous owner.
In January 2017, the CFPB exercised its enforcement authority by bringing suit against Navient Corporation, formerly part of Sallie Mae--currently the largest student loan servicer (23) in the United States (24)--and its subsidiaries, Navient Solutions, Inc.
CardWorks, with over USD 3.5bn in assets, is a consumer lender, merchant acquiring bank, and loan servicer to regulated financial institutions and non-bank lenders.
"Borrowers working in public service should not miss out on key consumer benefits because their student loan servicer failed to comply with the law," Cordray said at an event Thursday in North Carolina.
* Goodbye letter indicating the new contact information for the new loan servicer.
LaSalle Bank holds the affidavit of the loan servicer's employee inadmissible as a business record where the employee did not know who entered the data he relied on, whether the computer entries were accurate when made, or how incorporated data from prior loan servicer was derived.
As a home owner, your loan servicer will be operating under the regulations of the Act as enforced by the Consumer Finance Protection Bureau.
Even if you closed on March 2, for instance, you'd be charged interest by your loan servicer through March 31, potentially adding hundreds of dollars to your costs in the transaction.