SERVICING FEE
Servicing Fee is a mortgage servicer’s payment taken from the mortgage payment. The borrower compensates the mortgage servicer for the maintenance of record payments, collection and carrying out escrow payments, and the passing of principal and interest payments along to holders. The servicing fee is typically priced between ).25% to 0.5% of the remaining principal balance of the mortgage per month.
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Target Return
Pricing model used in valuing a business based on what an investor expects from any capital invested in the firm. It is computed by adding the amou ...
Remainder Man
An individual who receives the remaining principal in a trust account after all required payments have been made, such as those to the beneficiary ...
Average Collected Balance
The total average of the collected funds in a bank account in a month. The balance is calculated by adding the collected balance and dividing it by ...
Bankable Funds
Forms of payment that are accepted at financial institutions. Retailers and other organizations that directly accept payments from customers typica ...
Prudent-Person Rule
A legal maxim that restricts the discretion in a client's account to investments that a prudent person seeking reasonable income and preservati ...
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