What is the primary concern of a mortgage servicer?

A mortgage servicer primarily focuses on collecting payments from borrowers and managing the ongoing relationship with clients once the mortgage has been originated. This role involves ensuring that payments are processed accurately, addressing borrower inquiries, and providing necessary statements or documentation related to the loan.

Maintaining a positive client relationship is fundamental for mortgage servicers, as it helps ensure timely payments and addresses any issues or concerns that might arise during the life of the loan. The servicer acts as the point of contact for borrowers throughout the life of the mortgage, making them essential in providing customer service and support to enhance borrower satisfaction.

While developing new mortgage products, conducting property appraisals, and screening potential borrowers are important activities in the mortgage industry, they are typically more aligned with lenders or other financial institutions rather than the servicing aspect of mortgage management. The focus of a servicer is distinctly anchored in the ongoing administration of existing loans rather than the initial stages of securing and underwriting new mortgages.