servicing

noun | ser·vice

1. : the act of delivering to or informing someone of a writ, summons, or other notice as prescribed by law after service of process — see also notice by publication at notice, substituted service, summons

   Note: Although service of process is primarily the means for a court to exert personal jurisdiction over a person, some form of service (as by publication of notice in a newspaper) is also usually required for exercise of in rem or quasi in rem jurisdiction.

2. a : useful labor that does not produce a tangible commodity —usually used in pl. payment for services rendered

   b : the maintenance or repair of tangible property machinery for the service and improvement of the residence

transitive verb

1. a : to meet interest and sinking fund payments on (debt) didn't have the cash flow to service a large loan

   b : to collect payments and maintain a payment schedule for (a loan) especially after sale of the loan to a secondary mortgage market (as the Federal National Mortgage Association) — compare originate