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REQUEST FOR PROPOSAL (“RFP “) FORMATTER SERVICE FOR OKLAHOMA HOUSING FINANCE AGENCY 2021 SINGLE FAMILY PROGRAMISSUED BY: OKLAHOMA HOUSING FINANCE AGENCY September 16, 2020Proposals must be submitted
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What is master servicer?
A master servicer is an entity that oversees and manages the servicing of a pool of mortgage loans or mortgage-backed securities, ensuring compliance with loan agreements and handling borrower inquiries.
Who is required to file master servicer?
Mortgage servicers or entities that manage large pools of mortgage loans are typically required to file as master servicers.
How to fill out master servicer?
To fill out a master servicer, one needs to provide accurate and comprehensive information about loan servicing practices, financial data, and compliance with regulatory requirements, usually through designated forms provided by regulatory authorities.
What is the purpose of master servicer?
The purpose of a master servicer is to ensure effective servicing of mortgage loans, including collecting payments, managing escrow accounts, and ensuring compliance with investor requirements and regulations.
What information must be reported on master servicer?
Information reported by a master servicer typically includes loan performance metrics, servicing fees, borrower payments, escrow account balances, and compliance with servicing guidelines.
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