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What is the difference between a seller and a servicer?

April 26, 2017difference seller Servicer

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What is the difference between a seller and a servicer?

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A seller is an entity that sells mortgages to Freddie Mac. Freddie Mac discloses the seller’s name at pool issuance. A servicer is the entity that services the loans. Freddie Mac provides servicer information and updates the information monthly. Servicing rights can be sold concurrently in the month of issuance or from entity to entity throughout the life of the mortgage.