A mortgage subservicer is a company that manages home loans on behalf of the lenders that made them. Making loans and servicing loans are entirely separate tasks, which is why many lenders hire companies that specialize in servicing.
Servicing

"Servicing" refers to the day-to-day management of a loan portfolio. Collecting payments, arranging to pay taxes and insurance on homeowners' behalf, and pursuing delinquent borrowers are all part of servicing.
Hiring

Large lenders may service their own mortgages, but smaller financial institutions may not have the resources to dedicate to a full-time servicing department, so they hire a subservicer.
Subservicers

A lender could hire with a company that specializes in mortgage servicing, or it could contract with the servicing department of a large lender. GMAC Financial Services, for example, services its own loans as well as other lenders' mortgages under contract. ...more

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