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Tinanam0102 Posted 15 years ago
Vocabulary

Servicing

Hi teachers,

Like it or not, the high cost of servicing the national debt will put a lid on growth for years to come.

What does "servicing" mean?

Thanks

Tinanam
  

Top answer

Greetings Tinanam, Servicing means Supply and maintain systems for public utilities and communications (an area). but the "Servicing" which you are asking refers to " Loan servicing". Basically it's the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers.

— Obaidtariq

  • Greetings Tinanam, Servicing means Supply and maintain systems for public utilities and communications (an area).
  • but the "Servicing" which you are asking refers to " Loan servicing".
  • Basically it's the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers.
  • Best wishes [Hope you understand] Regards, Obaid
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1 Answers
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Greetings Tinanam,

Servicing means Supply and maintain systems for public utilities and communications (an area). but the "Servicing" which you are asking refers to "Loan servicing".

Basically it's the process by which a mortgage bank or subservicing firm collects the timely payment of interest and principal from borrowers.

Best wishes [Hope you understand]
0

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