Mortgage companies can offer a variety of products for a home buyer or owner. These services include new loans, home equity loans, refinancing, and equity lines of credit. Mortgage companies are also responsible for collecting payments, applying payments to loans, sending notices to the lender, recording loan and property information with counties, working with troubled lenders, and initiating foreclosure proceedings. A mortgage company originates or funds mortgages for property loans. Some mortgage companies only originate loans, some only service loans and some do both. Mortgage companies often work with banks or investors who are funding the loans. Mortgage companies who originate loans for revenue often sell these loans within a short period after closing them. These loans are sometimes owned by one company and serviced by another.