Real estate blog entries tagged with servicers by Jeremy Kossen (Acclaim Media Group)

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Home : Blogs : Jeremy Kossen : Jeremy Kossen's Blog : Tag "servicers"

servicers: Loan Modification: What's The Difference Between a Lender and a Servicer? - 05/05/09 01:09 AM

Lender vs. Servicer: The Good Old Days
This concept is often confusing to people.
Back in the good old days, it was simple. You went to your local bank or Savings & Loan to get a mortgage. You spoke to your personal banker or loan officer who helped you get a loan.
The institution had lots of customers who put their money with the institution in a savings account, CD, checking account, etc. The institution paid interest to their customers, which gave them the right to use money to lend out to other customers.
You can see why banks did not … (7 comments)

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Jeremy Kossen

Santa Barbara, CA

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Acclaim Media Group

Address: 1806 Cliff Dr., Suite F, Santa Barbara, CA, 93109

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