Loan Register: What It Means, How It Works

What Is a Loan Register?

A loan register is an internal database of maturity dates on loans. It shows when the loans are due and lists them in chronological order.

How a Loan Register Works

Loan registers, also known as maturity tickers, are important tools for loan officers. They use them to create follow-up leads. Servicers use loan registers to determine which borrowers to target in mass mailings or phone campaigns.

Loan registers are essential for generating return business. They allow companies to revisit existing clients when they may be considering a new loan. While larger corporations automate their loan registers, smaller lenders and mortgage brokers may use white boards, spreadsheets, and calendars to track their customers’ loan maturity dates.

A loan register is an internal database of maturity dates on loans listed in chronological order.

Servicer vs. Lender

A loan servicer, or mortgage servicer, is the company that handles the day-to-day maintenance of an active loan. It applies payments, issues payoff statements, and makes payments to third parties.

A lender handles the loan application and verifies qualifications. They also facilitate the closing process. Once the loan is closed, it moves to the servicer.

The servicer ensures that all documentation from the closing is filed and stored as required. They send the monthly payment notice and receive payments from borrowers. Servicers may change if loans are sold or if a business goes under.

While smaller lenders often don’t service their own loans, larger lenders handle everything from lending to servicing.