Periodic statements for residential mortgage loans.

CFR · 2024-01-01 · US · Title 12

(a) (2) (b) (c) (d) (1) (i) The payment due date; (ii) The amount of any late payment fee, and the date on which that fee will be imposed if payment has not been received; and (iii) The amount due, shown more prominently than other disclosures on the page and, if the transaction has multiple payment options, the amount due under each of the payment options. (2) (i) The monthly payment amount, including a breakdown showing how much, if any, will be applied to principal, interest, and escrow and, if a mortgage loan has multiple payment options, a breakdown of each of the payment options along with information on whether the principal balance will increase, decrease, or stay the same for each option listed; (ii) The total sum of any fees or charges imposed since the last statement; and (iii) Any payment amount past due. (3) (i) The total of all payments received since the last statement, including a breakdown showing the amount, if any, that was applied to principal, interest, escrow, fees and charges, and the amount, if any, sent to any suspense or unapplied funds account; and (ii) The total of all payments received since the beginning of the current calendar year, including a breakdown of that total showing the amount, if any, that was applied to principal, interest, escrow, fees and charges, and the amount, if any, currently held in any suspense or unapplied funds account. (4) (5) (6) (7) (i) The amount of the outstanding principal balance; (ii) The current interest rate in e

official document · source cfr-2024 · id 12:§ 1026.41