What is a servicer?

A servicer is a company that manages/services your loans. 

If you borrow a federal loan student loan, you are borrowing money from the government. The government then gives that loan to a servicer to manage all of your payments. 

If you take out a mortgage, your loan may have a servicer that manages your loan. The bank/lender borrows you the money for your home and the servicer manages the loan. This is not always the case.

Examples of servicers for student loans

• Navient
• Nelnet
• Great Lakes 
• Mohela

Examples of servicers for mortgage loans

• PennyMac
• Cenlar
• Mr. Cooper