Common use of Administration and Servicing of Loans Clause in Contracts

Administration and Servicing of Loans. will service the Loans purchased by NRF as provided herein. Without limiting the generality of the foregoing, ___________ will be responsible for the following services (the “Services”): (i) administering all borrower billing activities including, but not limited to, resolving billing disputes or inquiries; (ii) receiving and processing payments; (iii) collecting amounts owed; (iv) at the request and approval of NRF, engaging third-party collection agencies to collect delinquent amounts owed; (v) reporting Borrower trade line information to consumer reporting agencies; (vi) maintaining fraud prevention procedures; and (vii) maintaining adequate books and records relating to the Services.