Lexeme: loan servicing  
Inferred
Definition:
  1. noun. Loan servicing refers to the administration and management of a loan after it has been disbursed to the borrower by the lender. It involves various tasks, such as collecting and recording loan payments, maintaining borrower records, calculating interest and principal balances, managing escrow accounts (if applicable), providing customer support, and handling any issues related to the loan, such as delinquencies, defaults, or modifications. Loan servicing can be performed by the original lender or may be outsourced to a specialized loan servicing company. GPT3.5
Word Forms:
  • noun. loan servicing (singular), loan servicings (plural)
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