What is Loan Servicing?
Loan Servicing is a critical and complex part of the lending business that handles the administrative management of a loan from the moment the funds are disbursed until the loan is fully paid off (or closed).
It is essentially the post-origination phase of the loan lifecycle.
Loan servicing encompasses all administrative tasks involved in maintaining a loan account.
This includes managing payments, handling customer inquiries, ensuring regulatory compliance, and managing cases where a borrower is unable to meet their payments.
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