Sentences with phrase «multiple servicers»
"Multiple servicers" refers to the situation where there are several companies or individuals responsible for providing services or taking care of a particular task or function. Full definition
If you have multiple student loans with multiple servicers, keeping track of them can be a nightmare.
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Recovered $ 1.5 million in purchase funds by performing cash reconciliation of multiple servicers.
It can be a pain to make multiple loan payments every month or to contact multiple servicers when you have questions about or issues with your loans.
Secretary DeVos's plan also eliminated the system of using multiple servicers and subcontractors, and replaced it with a single servicer to handle the loans for approximately 36 million student loan borrowers.
However, it could speak to an underlying issue of uneven reporting practices or forbearance and deferment practices across multiple servicers.
Under the Obama Administration, changes called for a single online platform to be utilized by one company who managed multiple servicers under contract.
Chromy went on to say that having multiple servicers promotes competition and prevents the formation of a monopoly.
While there are still multiple servicers employed by the government, they are now transparent under one organization, the Department of Education.
The group has grown over the years to represent multiple servicers including Bank of America, Wells Fargo, Chase, Fannie Mae and Freddie Mac.
Managing your federal education loan debt with one servicer and one monthly payment may be more convenient than with multiple servicers.
The truth is that most Americans wth student loans have more than one — and with multiple servicers.
Loan consolidation can be helpful if you have multiple servicers, loans from the Federal Family Education Loan (FFEL) Program, or Federal Perkins Loans.
For some borrowers, the decision to refinance may also be an effort to remove a cosigner from a loan or to refinance multiple variable or fixed rate loans into a single, new loan, therefore eliminating monthly payments to multiple servicers.
The truth is that most Americans wth student loans have more than one — and with multiple servicers.
On Tuesday, the U.S. Department of Education (ED) announced its intent to open up the Next Generation Processing and Servicing Environment (a single data processing platform to house all student loan information) to multiple servicers.
Managing your federal education loan debt with one servicer and one monthly payment may be more convenient than with multiple servicers.