Process
Mortgage Servicer
The company that handles the day-to-day management of your mortgage after closing, including collecting payments, managing your escrow account, and providing customer service. Your mortgage servicer may or may not be the same company that originally made the loan. It is common for servicing rights to be sold to a different company. If your servicer changes, you will receive written notice with new payment instructions.
Why It Matters
Mortgage Servicer is one of the steps you will encounter on the path from house hunting to holding the keys. Knowing what to expect at each stage reduces stress and helps you make better decisions under time pressure.
Stay organized and communicate proactively with your real estate agent, lender, and other professionals involved in mortgage servicer. Delays and misunderstandings at any step can push back your closing date or cost you money.