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TeachMeFinance.com - explain service corporation service corporation -- a corporation wholly owned by one or more savings institutions that engages in business activities reasonably related to a savings institution. All activities must be approved by the Office of Thrift Supervision, and can include some activities that the parent thrift may not engage in directly. Typical service corporation activities include: originating, holding, selling and servicing mortgages; performing appraisal, brokerage, clerical, escrow, and research services; and acquiring, developing, renovating or holding real estate for investment purposes. See operating subsidiary. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional financial or legal advice. TeachMeFinance.com and its owner recommend consultation with a professional financial advisor prior to any investment or financial decision. Please read our disclaimer.