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As additional compensation in connection with a series of securities relating to residential loans, the master servicer or the sub-servicers may be entitled to retain all assumption fees and late payment charges and any prepayment fees collected from the borrowers and any excess recoveries realized on liquidation of a defaulted residential loan. She stresses the importance of going back to a repayment plan when you can afford it, and either overpaying or shortening the term of the mortgage to catch up with repayments. Usually a co-signer is a parent or guardian who co-signs the line of credit so that when the student is unable to make payments, the co-signer will take over and pay the balances.
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