special servicer

Definition

A company that is hired to collect on mortgages that are either delinquent or in default.

Use special servicer in a sentence

You should try to make sure that you have a good special servicer on your side that can help you out.

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Tony proudly inhabited all the stereotypes popular culture had bestowed upon him; employed by a special servicer, wearing a white wife beater, and always in possession of a baseball bat.

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A couple that had gotten far behind in making their mortgage payments avoiding answer the phone and door for fear of having to speak with the special servicer the bank had hired.

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