Student loan servicing definition

Student loan servicing or "servicing" means:
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Student loan servicing or “servicing” means receiving any scheduled periodic payments or notification of payments from a student loan borrower; and applying payments to the student loan borrower’s account pursuant to the terms of the student education loan, maintaining account records for the loan and communicating with the student loan borrower regarding the loan, on behalf of the loan’s holder, or interactions with a student loan borrower, including activities to help prevent default.
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Examples of Student loan servicing in a sentence

  • Consumer Financial Protection Bureau, The Next Front?: Student loan servicing and the cost to our men and women in uniform (Oct.

  • Student loan servicing also includes interactions with a borrower to facilitate such receiving or making of payments or maintaining of account records and communicating with borrowers.

  • Student loan servicing entails greater responsibility than just accepting and processing payments.

  • Student loan servicing includes payments made to loan servicers pursuant to their contracts with FSA.

  • Student loan servicing covers a wide range of responsibilities throughout the life cycle of a student loan.

  • Student loan servicing: Analysis of public input and recommendations for reform.

  • Student loan servicing is a trillion-dollar industry in which debtors’ comfort is irrelevant.

  • Firstly, the sick person is not held responsible for their illness – it is due to biological factors over which they have no control.

  • Examination activities generally focused on one of the following institution product lines (IPLs) or a baseline compliance management system: ▪ Automobile finance origination; ▪ Automobile finance servicing; ▪ Consumer reporting; ▪ Credit card account management; ▪ Debt collection; ▪ Deposits; ▪ Mortgage origination; ▪ Mortgage servicing; ▪ Remittance transfer; ▪ Short term, small dollar lending; ▪ Small business lending; ▪ Student loan origination; and ▪ Student loan servicing.

  • Examination activities generally focused on one of the following institution product lines (IPLs) or a baseline compliance management system: Automobile finance origination;  Automobile finance servicing;  Compliance technology;  Consumer reporting;  Credit card account management;  Debt collection; Deposits;  Mortgage origination;  Mortgage servicing;  Remittance transfer;  Short term, small dollar lending;  Small business lending;  Student loan origination; and  Student loan servicing.

Related to Student loan servicing

  • Loan Servicer means the entity that from time to time is designated by Lender to collect payments and deposits and receive Notices under the Note, the Security Instrument, this Loan Agreement and any other Loan Document, and otherwise to service the Loan evidenced by the Note for the benefit of Lender.

  • Countrywide Servicing Countrywide Home Loans Servicing LP, a Texas limited partnership and its successors and assigns.

  • Countrywide Servicing Agreement Solely with respect to the Countrywide Mortgage Loans, the Mortgage Loan Purchase and Servicing Agreement, dated as of November 1, 2001, between the Transferor, as purchaser, and Countrywide, as seller and as servicer (as successor to Countrywide Home Loans, Inc. by an assignment dated January 1, 2001, as the same may be amended or supplemented), as the same may be amended from time to time, and any assignments and conveyances related to the Countrywide Mortgage Loans.

  • student loan means a loan towards a student's maintenance pursuant to any regulations made under section 22 of the Teaching and Higher Education Act 1998, section 73 of the Education (Scotland) Act 1980 or Article 3 of the Education (Student Support) (Northern Ireland) Order 1998 and includes, in Scotland, a young student's bursary paid under regulation 4(1)(c) of the Students’ Allowances (Scotland) Regulations 2007.

  • Mortgage Loan Sale Agreement The mortgage loan sale and assignment agreement dated as of November 1, 2003, for the sale of the Mortgage Loans by the Seller to the Depositor.

  • Lead Securitization Servicing Agreement means (i) the pooling and servicing agreement or other comparable agreement related to the Lead Securitization, and (ii) on and after the date on which the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, the “Lead Securitization Servicing Agreement” shall be determined in accordance with the second paragraph of Section 2(a).

  • National City Servicing Agreement Solely with respect to the National City Mortgage Loans, the Master Seller’s Warranties and Servicing Agreement, dated as of October 1, 2001, between the Transferor and National City, as the same may be amended from time to time, and any assignments and conveyances related to the National City Mortgage Loans.

  • Mortgage Loan Seller Each of CREFI, GACC and JPMCB, and their respective successors in interest.

  • Securitization Servicing Agreement means the Lead Securitization Servicing Agreement or any Non-Lead Securitization Servicing Agreement.

  • Student Loans means education loans to students and parents of students under the Federal Family Education Loan Program.

  • Mortgage Servicing Rights The rights and responsibilities of Seller with respect to servicing the Mortgage Loans under the Servicing Agreements, including any and all of the following if and to the extent provided therein: (a) all rights to service a Mortgage Loan; (b) all rights to receive servicing fees, Ancillary Income, reimbursements or indemnification for servicing the Mortgage Loan, and any payments received in respect of the foregoing and proceeds thereof; (c) the right to collect, hold and disburse escrow payments or other payments with respect to the Mortgage Loan and any amounts actually collected with respect thereto and to receive interest income on such amounts to the extent permitted by Applicable Law; (d) all accounts and other rights to payment related to any of the property described in this paragraph; (e) possession and use of any and all Credit Files pertaining to the Mortgage Loan or pertaining to the past, present or prospective servicing of the Mortgage Loan; (f) to the extent applicable, all rights and benefits relating to the direct solicitation of the related Mortgagors for refinance or modification of the Mortgage Loans and attendant right, title and interest in and to the list of such Mortgagors and data relating to their respective Mortgage Loans; and (g) all rights, powers and privileges incident to any of the foregoing.

  • Master Servicing Agreement means the master servicing agreement entered into on 20 May 2013 between the Guarantor, the Issuer and the Master Servicer.

  • Mortgage loan originator means any institution which originated a Mortgage Loan for a related Borrower.

  • Non-Lead Securitization Servicing Agreement shall have the meaning assigned to such term in Section 2(b).

  • Substitute Servicing Agreement means a servicing agreement that contains servicing provisions which are the same as or more favorable to the Non-Lead Noteholders, in substance, to those in the Servicing Agreement (including, without limitation, all applicable provisions relating to delivery of information and reports necessary for any Non-Lead Securitization to comply with any applicable reporting requirements under the Securities Exchange Act of 1934, as amended) and all references herein to the “Servicing Agreement” shall mean such subsequent servicing agreement; provided, however, that if a Non-Lead Securitization Note is in a Securitization, then a Rating Agency Confirmation shall have been obtained from each Rating Agency with respect to such subsequent servicing agreement.

  • Interim Servicing Agreement The agreement to be entered into by the Purchaser and the Interim Servicer, providing for the Interim Servicer to service the Mortgage Loans as specified by the Interim Servicing Agreement.

  • Countrywide Mortgage Loans The Mortgage Loans identified as such on the Mortgage Loan Schedule for which Countrywide is the applicable Seller.

  • Servicing Portfolio means, as to any Person, the unpaid principal balance of Mortgage Loans serviced by that Person under Servicing Contracts, minus the principal balance of all Mortgage Loans that are serviced by that Person for others under subservicing arrangements.

  • Primary Servicing Agreement means the agreement between the applicable Primary Servicer and the Master Servicer, under which such applicable Primary Servicer services the Mortgage Loans set forth on the schedule attached thereto.