单词 | loan servicing |
释义 | loan servicingDefinition Borrower's obligation entailing timely repayment of loan interest and principal according to the terms of the loan agreement. Diligent loan servicing is an important element in the creditworthiness of a borrower, and is duly recorded by the lending institution in the borrower's credit history, and in the credit report shared with other lenders. In real estate, this is called mortgage servicing. |
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