In days gone by, you went to a savings and association in your area for a mortgage loan. They did the whole job including the application, collecting payments, and maintaining records. That mom and pop shop approach to mortgages has given way to an industry, where major player specialize in part of the process. Originators receive and process the applications. They sell the application to others who may bundle it and resell to the ultimate lender. That lender need not be the firm that services your mortgage. The lender may very well hire a mortgage service company to provide that service.