Finance
In South Dakota, which of the following is the primary function of a 'mortgage servicer'?
AOriginating new mortgage loans for borrowers
BCollecting monthly payments, managing escrow accounts, and handling customer service for existing loans✓ Correct
CSelling mortgages to the secondary market
DApproving loan applications for lenders
Explanation
A mortgage servicer collects monthly payments, manages escrow accounts for taxes and insurance, processes payoffs, handles delinquencies, and provides customer service on existing loans — often different from the originating lender.
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