### Question
How does the law define servicer?


### Answer
Under *15 U.S.C. § 6603*, **servicer** is defined as:

> the person, including any successor, responsible for receiving any scheduled periodic payments from a consumer pursuant to the terms of a residential mortgage, including amounts for any escrow account, and for making the payments of principal and interest and such other payments with respect to the amounts received from the borrower as may be required pursuant to the terms of the mortgage

#### Citation:
  - *15 U.S.C. § 6603*
  - Heading: **CHAPTER 92-YEAR 2000 COMPUTER DATE CHANGE**

