Loan servicing agent: Difference between revisions
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Amwelladmin (talk | contribs) (Created page with "{{a|contract|}}One who handles the interest and principal payments, monitors covenants etc. on behalf of a borrower. An unglamorous role; part of the pluming of the financ...") |
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Revision as of 09:55, 17 February 2021
One who handles the interest and principal payments, monitors covenants etc. on behalf of a borrower. An unglamorous role; part of the pluming of the financial system for which the agent is paid a mere annuity, and with respect to which the agent accepts as little risk as it can. Which, whatever your documents say, can be quite a lot of risk, if you are in the habit of accidentally repaying almost a billion dollars of principal to lenders when it isn’t due.