Definition

A person or company that provides services, especially in relation to managing loans or obligations by collecting payments and enforcing agreements.

Example

The servicer contacted the borrower to discuss the payment schedule.

Conversation

Have you ever talked to a loan servicer about your payments?

Not really, but I hear they can help you understand your options better.

Yeah, I think a good servicer can make a big difference in managing debts.

Absolutely! It’s nice to have someone guide you through the process.

Synonyms & Antonyms

Root Explanation

Servicer → It is formed from "serve" (from Latin "servire", meaning to serve) and "-er" (meaning a person who). A servicer is a person who serves or provides a service.

Memory Tip

Think of someone who 'serves' others — 'serve' means to provide help, and '-er' indicates a person doing that action.

Visually Confused Words