What is the primary function of a mortgage servicer?

The primary function of a mortgage servicer is the collection of mortgage payments. This role involves managing the day-to-day administration of the mortgage loan after it has been originated. The servicer is responsible for sending out monthly statements, processing payments, handling escrow accounts for taxes and insurance, and ensuring that the loan is appropriately managed throughout its lifespan.

Additionally, the mortgage servicer provides customer service to the borrower, addressing any questions or issues related to the loan, including payment processing and account management. This focus on payment collection is essential since it ensures that the lender receives timely payments, which is crucial for the overall health of the mortgage portfolio.

While the other options may relate to aspects of the mortgage and real estate industry, they do not capture the primary responsibility of the mortgage servicer. Origination of new loans pertains to starting new mortgage agreements, management of real estate properties falls under property management roles, and offering credit counseling is typically the function of financial advisors or counseling services rather than mortgage servicers.