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Question
Which of the below statements is FALSE?A) A seasoned loan is one that is already residing on the balance sheet of a bank or insurance company.
B) Responsibilities of the servicer include collecting monthly loan payments, keeping records relating to payments, and maintaining property escrow for taxes and insurance.
C) Responsibilities of the master servicer include overseeing the deal and verifying that all servicing agreements are being maintained.
D) Basically the objective of the master service is to maximize the recovery of defaulted loans.
Answer
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