Investors don't collect mortgage payments from homeowners.  The entity that does this is a 'servicer' hired by the investors or the investors' 'master servicer.'  Servicers "servicing fees" are generally a fixed percentage of the loan principal balance.  Servicers generally receive 0.25% to service a prime loan, 0.35% to service an adjustible rate loan and 0.50% to service a subprime loan.  Research from the Federal Reserve has speculated that the low base servicing rate contemplates and tolerates some degree of servicing fraud to foist part of the cost of s