Definition, Meaning & Synonyms
servicer
noun
/ˈsɜːrvɪsər/
Definition
A person or entity that provides services, especially in relation to loans or debts, managing and servicing the obligations on behalf of the lender.
Examples
- The mortgage servicer handled the loan payments smoothly.
- As a servicer, it is important to maintain good communication with borrowers.
- She works as a loan servicer for a large bank.
Meaning
In finance, a servicer is responsible for collecting payments, maintaining records, and handling customer inquiries related to a loan or mortgage.
Synonyms
- service provider
- agent
- administrator
