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The vast majority of servicers are wonderful, the only ones that are unethical are those that take on the servicing of Sub-prime loans. Those companies intentionally "mis place" the incoming checks or somehow don't credit the account until after the 16th of the month, get the figures wrong for the escrow accounts etc. The fee's that they generate from such errors are very large when added up for all the loans they are involved with.
I think that those companies will go by the wayside in the next few years, as most loans done these days are conforming or Government. The servicing for those loans typically are done by large, ethical organizations.
Charles
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