Grammar question: "timely" archived

I believe it should read 'timeously', but grammar is not my strong suit.

Webster's New World College accepts that usage ("The brief was timely filed with the court.") but to my ear it sounds archaic and perhaps what you'd expect in a document containing "servicer." What's wrong with "on time"? I see from a little Googling that it's finance-ese.

ictulips, I don't believe "timeously" is standard English, unless you're Scottish.

timely should be before receives.

Even though timely ends in "ly" it is an adjective, not an adverb. Not all "ly" words are adverbs. Putting timely before receives turns it into an adverb. While that may have been the original form of the word, it sounds archaic.

By the way, what is a servicer? I am often annoyed by use of the verb "service" in place of the word "serve." It is sometimes appropriate, but rarely. For instance, I serve my clients. I do not service them. A bull services a cow.

Use "on time."

a servicer is someone who collects debt service on a loan.

My phrase is from a mortgage industry policy manual written by lawyers and financial people. Fun reading. I also thought of "on time," but they use "in a timely manner" so often that I figured it's got some legal meaning above and beyond "on time." I agree that their use of "timely" above sounds archaic.

"Servicer" is a standard term in the mortgage industry. Here's what Wikipedia says:

A mortgage servicer is the company that borrowers pay their mortgage loan payments to. Mortgage servicers either purchase or retain mortgage servicing rights that allow them to collect payments from borrowers in return for a servicing fee. The duty of a mortgage servicer varies, but typically includes the acceptance and recording of mortgage payments; calculating variable interest rates on adjustable rate loans; payment of taxes and insurance from borrower escrow accounts; negotiations of workouts and modifications of mortgage upon default; and conducting or supervising the foreclosure process when necessary.[1]

Many borrowers confuse mortgage servicers with their lender. A mortgage servicer may be a borrower's lender, but often the beneficial rights to the payment of principal and interest on mortgages are sold to investors such as Fannie Mae, Freddie Mac, Ginnie Mae, FHA, and private investors in mortgage securitization transactions.

Right, that use of the word servicer is common. I got annoyed when a boss I had talked about how I should service our customers. I'm not that kind of stud!

http://dictionary.reference.com/browse/service

I've always felt that saying "timely manner" means there's no real dead line ... Otherwise you'd say "due date" or the like ... Timely manner means you did what you had to do in an appropriate timeframe ...

On time can't replace timely. On time infers a specific date or time. Timely is within a reasonable time frame.

It does sound archaic.

not sure what this is in reference to......but if every day grammar, instead of "If the servicer receives the first payment timely in accordance with the terms of a trial period plan"....it should read:

"If the service receives the first mayment in a timely manner, in accordance to the terms of the trial period plan..."

I can't hear "timely" without wincing. I don't even know the grammar of it, I just dislike that word for some reason... not only archaic, but excessively formal and verbose. No one says "timely" without cramming in far too many words in one sentence.

Note the orig post and Webster quotes were both legalese. This use is probably a proper old form which is still a "term of art".

I use the word 'timly'. "He was late to work in a timly fashion today" or “we are out for a real tim night” and the ubiquitous “wow you look totally tim-ed” in that my friend Tim has a history of having many libations, goes out on the town and ends up at a place with a new ‘friend’ because he hasn’t made a timely exit.

Edited: Per webster (the guy asking for change at the Hudson to GWB entrance ramp) it is tim'd and not tim-ed.

mammabear said:

http://dictionary.reference.com/browse/service

Right, service is there (although I rely on a different dictionary). Servicer isn't found. Why not "service provider," or something more clear? Oddly, I don't object to a phrase like "service the debt." Even though I can't make myself understand structured finance.

Below are a few other instances of "timely" in this manual. They all sound okay to me, unlike the sentence I posted above, which sounds like something out of Dickens. HoBo, I agree with you. I'm going to suggest changing it to "in a timely manner."

the servicer must follow foreclosure guidelines and process the foreclosure in a timely manner.

failure of the servicer to provide, on a timely basis, required or requested documents

ensure all servicing guidelines are fully met in a timely and cost-effective manner.

To ensure that the foreclosure is handled in a timely and professional manner

provide timely payoff quotes and refunds of escrow deposits after payoff.

the requirements for providing timely notification

In order to facilitate the timely removal of regular servicing option

the accurate and timely preparation and recordation of security instruments

Untimely submissions of the Form ... constitutes an inadequate verification of ...

I have the same problem with 'lovely', another adjective ending in -ly. How to make it an adverb? 'Lovelily'? and 'timelily'?

Timely is legalese.
It is not necessarily proper English, but it is a term of art.

Well, so are "deplane" and "can I help who's next," but there's really no need.

One more ... A baseball team can win with "timely hitting" ...

kathy said:

I have the same problem with 'lovely', another adjective ending in -ly. How to make it an adverb? 'Lovelily'? and 'timelily'?

"Step livelily. Watch the closing doors, please."