1. companies or organizations that manage and collect payments on loans, especially mortgages, on behalf of lenders
Usage: finance; business
2. people or companies that maintain, repair, or provide regular care for equipment or systems

Examples

• The mortgage servicers collected monthly payments from homeowners.
• Several loan servicers were investigated for improper billing practices.
• Equipment servicers arrived to perform routine maintenance on the machinery.
• The company hired new servicers to handle customer accounts.
• Many borrowers were confused when their loans were transferred to different servicers.
• HVAC servicers inspect and repair heating and cooling systems.
• The bank sold the loans but retained the same servicers for collection.