Loan servicing agent

The basic principles of contract Go Premium Formation: capacity and authority · representation · misrepresentation · offer · acceptance · consideration · intention to create legal relations · agreement to agree · privity of contract oral vs written contract · principal · agent Interpretation and change: governing law · mistake · implied term · amendment · assignment · novation Performance: force majeure · promise · waiver · warranty · covenant · sovereign immunity · illegality · severability · good faith · commercially reasonable manner · commercial imperative · indemnity · guarantee Breach: breach · repudiation · causation · remoteness of damage · direct loss · consequential loss · foreseeability · damages · contractual negligence · process agent Remedies: damages · adequacy of damages ·equitable remedies · injunction · specific performance · limited recourse · rescission · estoppel · concurrent liability Not contracts: Restitution — quasi-contract — quasi-agency Index: Click ᐅ to expand: Contract Tort Restitution Comments? Questions? Suggestions? Requests? Insults? We’d love to 📧 hear from you. Sign up for our newsletter.

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.