Which of the following is not part of loan servicing?

  1. Processing payments and sending statements
  2. Managing the escrow account
  3. Handling pay-offs and assumptions
  4. All of the above are part of loan servicing
Explanation

Answer: D - The company you make your loan payments to is “servicing” your loan by processing payments, sending statements, managing the escrow account, providing collection efforts on delinquent loans, making sure insurance and property taxes are made, handling pay-offs and assumptions, and other services.

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