Sentences with phrase «same servicer»
The phrase "same servicer" means that a person or organization is using the services of the same company or entity that they have used before. It implies repeat or continued use of a particular service provider. Full definition
-- The enterprises shall include as eligible borrowers in the Home Affordable Refinance Program all current borrowers who have an eligible mortgage and meet those underwriting requirements for eligibility for same servicer refinancing in the Program as of March 1, 2012, except that the enterprises may not disqualify or impose varying rules within the Program for borrowers based on LTV, CLTV, employment status or income.
congress.gov
If one of those servicers currently manages the borrower's loans, the same servicer may be retained, or a different one may be chosen.
You might find that your interest rates on multiple loans can vary with the same servicer.
The Consumer Financial Protection Bureau released a report in October 2013 describing common problems many borrowers face when they attempt to prepay private student loans or make payments for multiple loans held by the same servicer.
Life - of - loan servicing is not a guarantee that the loan will not be sold from one lender to another, but rather that the same servicer will be used by the lender that acquires the loans.
You can pay a PLUS loan separately from a Stafford even if they're the same servicer, but even though a Stafford is typically serviced as two loans to handle the differing interest rates, legally speaking your Stafford loans are all one big pot.
Prior to October 1, 2009, all refinances through Freddie Mac's Relief Refinance Mortgage are required to have the same servicer as the existing mortgage being refinanced.
Freddie Mac has extended their offer for both their Freddie Relief Refinance Mortgage - same servicer and Relief Refinance - Open Access programs.
Consolidation — rolling several smaller loans into one big loan with the same servicer, could make it easier to manage your payments.
Some lenders offer life - of - loan servicing, which means that the same servicer will be used even if the loan is sold.
The Consumer Financial Protection Bureau released a report in October 2013 describing common problems many borrowers face when they attempt to prepay private student loans or make payments for multiple loans held by the same servicer.
You might find that your interest rates on multiple loans can vary with the same servicer.
(7) the term «same servicer» means a lender that is providing refinancing for a borrower whose loan they already service;