Servicer - Meaning, Definition & English Examples
A servicer is a person or company that manages or maintains something, such as loans, equipment, or systems, ensuring they function properly and meet required standards.
Definition:
A person or company that provides maintenance or financial services for a product or loan.
Synonyms:
provider, maintainer, administrator, operator
Part of Speech:
noun
Antonyms:
neglector, abandoner
Common Collocations:
loan servicer, debt servicer, mortgage servicer, customer service
Derivatives:
servicing, serviced
Usage Tips:
Use "servicer" to refer to entities managing loans or maintenance; avoid for general service providers like waiters.
Common Phrases:
loan servicer, mortgage servicer, debt servicer
Etymology:
Derived from "service," originating from Old French "servise," meaning "act of serving."
Examples:
- 1. The bank acts as the loan servicer for my mortgage.
- 2. The car’s extended warranty includes a dedicated servicer for repairs.
- 3. A good debt servicer helps borrowers manage payments efficiently.
- 4. The software company hired a third-party servicer for customer support.