Mortgage servicing rights

In the mortgage industry of the United States, mortgage servicing rights (MSR) are the contractual rights to service a mortgage after the mortgage origination process is complete. Mortgage servicing is the management of the repayment of mortgage debt on behalf of the lender, including the collection and recording of mortgage payments. The legal entity that holds the mortgage servicing rights is the mortgage servicer.

The initial holder of servicing rights is the mortgage lender (the creditor). These rights are a transferable asset; they may be bought and sold on the secondary mortgage market.

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