The collection of principal, interest, and sometimes property taxes from borrowers; accounting for the cash flows due and the cash flows received; and remitting the cash flows to the entitled recipients. American Banker Glossary

* * *

service service 3 verb [transitive]
1. FINANCE to pay a debt, loan etc:

• Cardholders are having trouble servicing their debts to the lender.

2. FINANCE if a financial institution services loans, debts etc, it manages them for another company, for example by collecting payments, calculating interest etc:

• We currently service loans for more than 15 million customers nationwide.

3. to examine a machine or piece of equipment and to mend it if necessary:

• Compaq relies heavily on independent dealers to sell and service its computers.

4. COMMERCE to provide a particular service, such as help, advice, transport etc:

• Our customers in Mexico are serviced through a network of independent insurance firms.

— servicing noun [uncountable] :

• We plan to bring the equipment back to the U.S. for servicing.

• Income from mortgage servicing rose sharply.

• The company has been increasing its loan servicing portfolio.

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servicing UK US /ˈsɜːvɪsɪŋ/ noun [U] FINANCE
the activity of making regular payments to pay back a debt or loan, including interest: »

The Treasury is keen to reduce public borrowing quickly in order to prevent servicing costs climbing further.

See also LOAN SERVICING(Cf. ↑loan servicing)

Financial and business terms. 2012.

Look at other dictionaries:

  • servicing — index provision (act of supplying) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • servicing — See common servicing; cross servicing; joint servicing. See also inter Service support …   Military dictionary

  • servicing — ser|vic|ing [ˈsə:vısıŋ US ˈsə:r ] n [U] when a machine or vehicle is examined and things are done to keep it working well ▪ The new model is quieter, needs less servicing and is more fuel efficient …   Dictionary of contemporary English

  • servicing — priežiūra statusas T sritis automatika atitikmenys: angl. maintenance; monitoring; service; servicing vok. Bedienung, f; Betreuung, f; Dienstleistung, f; Unterhaltung, f; Wartung, f rus. обслуживание, n; техническое обслуживание, n pranc.… …   Automatikos terminų žodynas

  • servicing — techninė priežiūra statusas T sritis Gynyba apibrėžtis Valymas, tepimas, papildymas, tikrinimas ir smulkus remontas, būtini, kad technika (įranga) būtų tinkama eksploatuoti. Kartais priežiūra gali apimti ir šaudmenų krovimą ar užtaisymą.… …   NATO terminų aiškinamasis žodynas

  • servicing — noun the act of mating by male animals the bull was worth good money in servicing fees • Syn: ↑service • Derivationally related forms: ↑service (for: ↑service), ↑service …   Useful english dictionary

  • servicing — serv·ice || sÉœrvɪs / sɜːvɪs n. act of providing; act of offering; work, labor; function, role; set of dishes; religious ceremony; offer, presentation; help, aid; act of putting a ball into play (Sports); military, armed forces v. provide… …   English contemporary dictionary

  • servicing — See service charge …   Black's law dictionary

  • servicing — To carry out a service …   Dictionary of automotive terms

  • Servicing Strip — A security created by the stream of cash flows that result from the servicing fee on a mortgage. Servicing strips trade in a secondary market much like mortgage backed securities do; the seller of the servicing strip has the ability to service… …   Investment dictionary

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