Are mortgage companies required to send monthty statements which clearly state additional payments


Are they required to show in detail on the statement any additional principal or escrow paid. Assume a fixed rate mortgage, but it should be the same for a variable rate. Should the payment coupon also provide a place to indicate additional principal or escrow amounts included in the payment.


Yes, all payment activity should be reflected on the new statement (assuming payment posted before statement was generated) and statements should have an area to break down any additional payment so it is posted correctly.

Answered almost 3 years ago
Ted Rood
1480 1 8
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