master servicer

Definition

An entity that acts on behalf of a trustee for security holders' benefit in collecting funds from a borrower, advancing funds in the event of delinquencies and, in the event of default, taking a property through foreclosure.

Use master servicer in a sentence

The master servicer was very kind and he did his job with such passion and he really cared about us a lot.

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You should try and bring on a master servicer that will help you to get exactly what you want out of a deal.

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They served as the master servicer on the loans and were responsible for collecting the monthly payments and remitting to investors.

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