§ 1026.41 Periodic reports for residential mortgages. Office for Financial Protection of Consumers (2023)

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1.receiver is a loop statement.When two consumers join the principal debtor in a closed consumer credit transaction, periodic statements may be sent to either party with whom they are involved, in accordance with §1026.41. For example, if spouses share a home, the provider requires that the statement not be sent to both spouses; individual statements are allowed.

2.The billing cycle is shorter than 31 days.If the loan has a billing period less than or equal to 31 days (for example, a two-week billing cycle), periodic statements can be used during the per. Because the statement is required by §1026.20(d)(1) to state separately the amount due and payable for the claim and to state all transactions that occurred during the relevant time period as required by (d)(4). Such reports may collect information used to explain the amount owed other than that required by paragraph (d)(2) and information about past payments as required by paragraph (d)(3).

3.One statement per billing cycle.The periodic reporting requirements in §1026.41 apply to "creditors, assignees, and proper servicers." The creditor, receiver and even the servicer have chosen this request (But lookComment 41(a)-4), and only one request may be sent to a consumer per billable shift. If two or more parties are subject to this requirement, they may decide for themselves which party will make the statement.

4.switch off.Consumers cannot opt ​​out of receiving periodic statements at all. Indeed, consumers who have demonstrated the ability to access a statement online may choose not to receive events where that statement is available. As a feature, for example, consumers can indicate that they no longer want to be billed when a new order becomes available by receiving a record that it is available, visiting the website that provides that information, viewing their accounting information, and selecting a link or option in the notification.

See 41(a) for explanation of In widespread. is one's complement

1.Reasonable and timely.Section 1026.41(b) requires that periodic statements be delivered or mailed from a very timely zeitpoint after the payment due date, not a very timely zeitpoint after the end of any grace period. Delivery, emailing of periodic statements to others, and mailing of periodic statements within four days of the end of the grace period preceding the previous billing cycle are generally considered reasonably timely.

2.Grace period.The meaning of "grace period" is explained in section 7(b)(11)-1.

See explanation of schedule 41(b) in the periodic statement above. introducing me

1.The standards are clear and impressive.The "obviousness" standard generally requires that disclosures be made in a plain and understandable form. Unless otherwise stated, the standard does not prohibit additions to required releases as long as the additional information does not overwhelm or obscure the required disclosures. For example, some information about escrow accounts, such as general ledger balances, may be withheld because periodic statements do not require such information.

2.Additional information, disclosures required by certain laws.Nothing in §1026.41 prohibits a servicer from including additional information required by other codes or combining notices required by other codes with disclosures required by this section, unless such prohibition is expressly provided in this section or other applicable law.

3.Online retail.Periodic statements can be delivered electronically if the consumer agrees. Consumers expressly agree to receive statements electronically. If the statement is provided electronically, the creditor, agent, or servicer may send a notice to inform the consumer that the statement is available and provide a link to find the statement that can be accessed, instead of the statement itself.

4.Assume consent.Unlimited consumers who currently receive any customer statements (such as mortgage or checking account) electronically from their servicers will be deemed to have consented to receiving electronic statements in lieu of paper copies.

5.Modifications are allowed.If such language is inappropriate, the servicer may amend the sample periodic statements set forth in Exhibit H-30 to this part to remove language that could imply liability under the mortgage loan agreement. For example, for a recognized assignee who is not subject to a mortgage under state law and is not otherwise liable for the loan obligations, the servicer may amend the following form:

i Use "this mortgage" or "mortgage" instead of "your mortgage".

2. Use "late payment on this mortgage" instead of "late mortgage payment".

3. Use "This is the amount required to settle your loan" instead of "You must pay this amount to settle your loan".

See Form 41(c) Periodic Statement for explanation. in appendix one

1.The distance is closer.Section 1026.41(d) requires multiple disclosures, preferably as close together as possible. At this necessary meeting, closely adjacent items to be offered must be grouped together and separated from groups of other related items. This can be achieved in a number of ways, for example by presenting information in boxes or by arranging positions in the document and including spaces between groups. There should be no irrelevant text between products that are nearing the end. If the text does not explain or expand on an important claim, then it is irrelevant.

2.It does not apply.If any of the particulars required by paragraph (d) or (e) of this section is not a condition of any loan, I permit its omission in the periodical statement or voucher book. For example, if the loan does not have a prepayment penalty, the prepayment notice does not need to appear on the periodic statement.

3.condition.Service personnel may use wording other than that specified in Appendix H-30 for the periodic sampler statement as long as the new technology is generally understood. For example, servicers may consider regional differences in wording and refer to the tax and insurance accounts listed in §1026.41(d) as "escrow accounts" as well as "junk accounts."

4.Temporary loss reduction plan.If an interim benefit mitigation plan is ultimately agreed upon, §1026.41(d)(2), (3), and (5) require disclosure of how payment will be made and how it will be implemented. It must determine how payment was made under the contract, regardless of temporary loss minimization procedures.

5.The first description after the termination of the waiver.Sections 1026.41(d)(2)(ii), (d)(3)(i), and (d)(4) require disclosure of the total amount of any fees or charges collected from previous statements, the total amount of all payments since then. The statement remains unchanged from the last time it included payment method details and the last time an adenine list of all transaction activity was displayed. To provide consumers with the most important periodic guidance, subsequent termination is an exception under §1026.41(e), through §1026.41(d)(2)(ii), (d)(3)(i), and (d)(4). ) May be limited to activities after the last payment due date that occurred while the waiver was in effect. For example, if the mortgage payment is due at the beginning of each month and the contributor terminates on January 15 under the exemption in section 1026.41(e), the first statement given to the consumer after January 15 may be limited only to the total amount related to all fees incurred or costs, the total amount of all payments received, a breakdown of payment methods and a list of all transactional payments since January 1.

See 41(d) for an explanation of the satisfaction and scheduling of the above periodic statements. completing himself

1.acceleration.If the mortgage bill is accelerated, but the servicer will accept a lower bill for repayment, the dollars owed under §1026.41(d)(1) must determine only the lower amount accepted for repayment. Periodic statements must be accurate when issued and should show, if applicable, that the amounts due for a particular time period are correct. For example, the statement may contain language such as "from [date]" or "valid until [date]" and provide an amount to reactivate the loan as of that date or valid until that date.

2.Temporary compensation program.Although the consumer has agreed to an interim mitigation plan, the amount payable under §1026.41(d)(1) may determine the amount to be paid in the interim mitigation plan or the aforementioned amount to be paid under the loan agreement.

3.Permanently modified.If the loan entry is permanently modified, it is only necessary to establish that the amount in arrears under §1026.41(d)(1) is less than the amount due under the modified loan agreement.

See 41(d)(1) for explanation of amounts payable. in appendix one

1.acceleration.If the adenine mortgage balance is accelerated, but the servicer will agree to a less adenine return loan, the expiring currency will report the return amount below the due amount. Timely notices and accelerated amounts, excluding required monthly auszahlung amounts pursuant to §1026.41(d)(2)(i). The periodic statement must also include an explanation of the acceptance of the repayment amount applicable until "from [date]" or "due to [date]" for repayment of the loan and any special instructions for submitting the payment. The explanation must appear on the first page of the statement or may be included on a separate page accompanying the periodic statement. The explanation may include relevant information, such as a statement that the posted amount was not the "paid amount".

2.Temporary loss reduction plan.If the consumer has agreed to a temporary mitigation plan and that amount is determined to be a payment due under the temporary mitigation plan, the interpretation of the amount payable under §1026.41(d)(2) must include the amount payable under the temporary loan agreement and payments due under the plan to reduce losses. The statement must also include an explanation that, as a result of this temporary relief, the amount payable will be reported as a different amount. The justification must be placed on the first page of the statement or, alternatively, it may be included on a separate page or in a separate letter attached to the periodic statement.

Explain the 41(d)(2) deadline instructions. in appendix one

1.part of the cost.As required by §1026.41(d)(3)(i), disclosure of all partial payments sent to hazardous or unused fund accounts after the last statement must reflect all fund statements received during the time period covered by the current balance, etc., are deposits in such accounts. As required by §1026.41(d)(3)(ii), disclosure of any partial payment sent to a calendar year partial payment or suspension account reflects that any joint accounts currently in the suspension or suspension account are unused foreign exchange accounts . for example:

i Let's say the deposit is $1,000, but the customer withdraws only $600 on January 1st, which is deposited into the excitement account. There is no charge for further copying of this account. Since there are no more funds in the Angenommen suspense account, the above statement for January should reflect: Unused funds from last move - $600. Unused funds year to date - $600.

2. Assume the same actual value as in the previous paragraph, but in February the consumer sends $300 plus this is also held in an unspecified account. The statement should reflect: Unspent funds since last comment - $300. Unspent funds from last year - $900.

triplets. Assume the same events as in the previous paragraph, except that the consumer emits $400 during Tramp. In this payment, the full periodic payment is completed when the $100 is added to the $900 that was previously in the suspense account. $1,000 is used for the January payment, and the remaining $300 remains in the suspense account. This statement should reflect: Unused funds since last statement - $300. Funding since the beginning of the year has not been used - $300.

See 41(d)(3) for explanation of paid details. in appendix one

1.Great.Activity includes all transactions that credit or debit an amount currently in arrears. As is the same amount required for publication under §1026.41(d)(1)(iii). Examples of such merge conclusions, unconditionally:

i payment of additional applications;

b) Money received and accumulated on a temporary account.

3. Imposition of any professional fees (such as late fees) i

4. Imposition of any charges (such as private lien insurance).

2.Instructions for late payment.Options for any late fees include the date of the late fee, the amount of the late fee, and the subject of the late fee.

3.partial payment.If the bias fee is sent to a suspended or unused account, that fact must include the date and amount of the fee in the transaction option.

See 41(d)(4) Commercial Activities Translation. Appendix I

1.Time period of delay.The duration of a consumer's delinquency under the prospective provisions of §1026.41(d)(8) is measured from the date the periodic statement begins, not from the determination of the written notice under §1026.41(e)(3)(iv). Consumer Misbehavior From today, an amount sufficient to cover recurring payments of principal, interest and deposits (if applicable) becomes due and outstanding, even if the consumer is allowed to assess that the cycle A late fee has been paid before the cycle. A consumer is in arrears if one or more periodic principal, title and deposit payments (if applicable) are due without funds.

2.Apply for financing.For purposes of §1026.41(d)(8), if the servicer makes a payment with the first qualifying periodic payment, the customer's delinquent supplemental payment is carried forward to the date the customer became delinquent. For example, suppose there is a secured loan obligation under which the consumer's term loan is due on the first of the month. ADENINE consumer who did not make payment on 01.01., but duly paid after 03.02. And the servicer applies the payment received on February 3rd to the pending payment for January. On February 4, the consumer was in arrears for three days, and on the next periodic statement, the time during which the consumer is in arrears should be indicated, with February 2 being the first day of the delay.

See the explanation of penalty information in section 41(d)(8). in appendix one

See explanation of deviation 41(e). in appendix one

1.The interest rate is fixed.For guidance on defining the meaning of "fixed rate" for purposes of §1026.41(e)(3), see §1026.18(s)(7)(iii) and its commentary.

2.Coupon book.Paper books are magazines offered to consumers, with one page per billing cycle for a specific period (usually a year). Which pages are designed to be removed and restored to the server for a fee each billing cycle. Additional loan information can often be found on the front or back cover or inside or on an additional page of the coupon book.

3.informative site.The information required by paragraph (e)(3)(ii) need not be provided for each coupon, but will be provided somewhere in the above coupon book. Such information may be on or in, for example, the back cover of a leading type or provided as a supplemental page in a coupon book.

4.outstanding principal.Paragraph (e)(3)(ii)(A) ​​requires the information specified in paragraph (d)(7) to be included in the coupon book. Paragraph (d)(7)(i) requires disclosure of outstanding funds. If the servicer uses a coupon book and the exemption includes §1026.41(e)(3), the servicer is required to distribute the opening balance only at the beginning of the time period covered by the coupon book.

Displays an explanation of the coupon book exemption under section 41(e)(3). in appendix one

See beginning 41(e)(4) Small providers. iodine supplement

1.Consider a mortgage.Pursuant to §1026.41(a)(1), mortgages deemed to determine small servicer status are closed credit transactions secured by treasuries, subject to the exceptions in §1026.41(e)(4)(iii).

2.Reverse Home Loans 5000 or less with affiliates.Pursuant to §1026.41(e)(4)(ii)(A), the servicer must service 5,000 or fewer mortgages with any affiliate, and the servicer (or affiliate) must service options on it that is a creditor or assignee. There are two elements to satisfying §1026.41(e)(4)(ii)(A). First, the servicer and everyone involved must post a $500 or $10 billion mortgage. In other cases, the servicer requires only that the servicer (or affiliate) be the creditor or mortgagee. To become a payee or mortgagee, a servicer (or related party) must currently be a mortgagee. The entity that must own the mortgage obligation first becomes PayPal (ie, the mortgage originator). ADENINE SERVICER is not a small servicer under §1026.41(e)(4)(ii)(A) ​​when it services random pawn shops whose servicer or affiliate is not a creditor or receiver (ie, the servicer or member is not an owner or not a contractor). The servicer does not qualify as a microcomputer under §1026.41(e)(4)(ii)(A) ​​​​​​​​​​​in the following two product displays because it does not meet the requirements under §1026.41(e)(4) (ii) ( A) use se to determine the server's short service status:

i Servicer services 3,000 mortgages, all of which are owned by him or his affiliates. Certain affiliates of the servicer serviced 4,000 other mortgages, all of which were owned by it or its affiliates. Since the number of mortgages a servicer services is determined by counting the mortgages owned by that servicer along with all affiliates, both servicers are verified to serve 7,000 mortgage banks, and neither servicer can be a small servicer.

2. The servicer services 3,100 mortgages - 3,000 mortgages that it owns or originates and 100 mortgages that it neither owns nor originates, but for which it has mortgage servicing rights. A servicer is not a small servicer because the mortgage servicer (or affiliate) AND is not a creditor or assignee, even though the servicer has fewer than 5,000 mortgages.

3.Primary and secondary services.AMPERE servicers that qualify as micro servicers will not lose their small servicer status if they retain ancillary servicers (as defined in 12 CFR 1024.31) to service their mortgage loans. If (1) the primary servicer (as you define that term in 12 CFR 1024.31) are both small servicers and (2) the secondary servicer is a small servicer, the secondary servicer may receive the benefits of the small servicer exemption. A secondary servicer generally does not qualify as a small servicer because it does not originate or originate its secondary servicer's mortgage—unless it is an affiliate of a primary servicer that qualifies as a microservicer. The following examples show different forms of service relationships for free small server users:

iodine. The credit union offers 4,000 mortgages, all of which are issued or owned. The credit union hired an unrelated credit union services company to service 1,000 mortgage loans. Credit Unicon is a short-term servicer and therefore can receive microcomputer exemption benefits for the 3,000 mortgages that the credit union services itself. This credit union servicer is not a small servicer because it services mortgages it cannot own or manage. As a result, credit union servicers do not receive the benefits of the subservicing exemption and must comply with the mortgage servicing requirements for any 1,000 subservicing mortgages.

2. A portfolio bank holds 4,000 mortgages through a lender subsidiary. All mortgage servicing authority for Fork 4000 Mortgages is owned by a wholly owned subsidiary of the master servicer. 4,000 mortgages were serviced by a wholly owned subsidiary. These bank subsidiaries await the business of the company and are therefore subsidiaries of the bank holding company under 12 CFR 1026.32(b)(2). Because the primary servicer or secondary servicer services 5,000 mortgages or fewer, and because all mortgages are owned by us or originated by affiliates, both the primary servicer and the secondary servicer qualify for all 4,000 small mortgage servicer exemptions.

3. A non-bank employee services 4,000 home loans that she takes out herself. The Provider maintains the "Element Provider" to maintain its functionality. A component servicer does not provide "services" as defined in 12 CFR 1024.2. You acknowledge that the Component Servicer will not receive scheduled periodic payments from Borrower under the terms of any mortgage, including available escrow account amounts, and will not require interest or other payments on amounts received from Borrower under the terms of the mortgage. loan servicing documents or servicing agreement; An item servicer is not a subservicer under 12 CFR 1024.31 because it does not perform services, as defined in 12 CFR 1024.2. A non-banker may be a small servicer and therefore be able to take advantage of the microcomputer exemption instead of surveying all 4,000 mortgage banks for their specialty. Periodic Billing Order (2013 TILA Service Final Rule). ... remortgage transactions or use of a mortgage servicing service...

4.Non-commercial entities with 5,000 or fewer mortgages.To qualify as a small servicer under §1026.41(e)(4)(ii)(C), the servicer must be an adenine nonprofit entity servicing 5,000 mortgages or fewer, including angelliedert nonprofit agency Each mortgage serviced by the entity, all such servicers or related non-profit entities are creditors. There are two elements to satisfying §1026.41(e)(4)(ii)(C). First, the nonprofit entity must originate 5,000 mortgages or less and service all mortgages for the affiliated nonprofit entity. A small servicer designation is created individually for each affiliated nonprofit organization, regardless of the number of loans serviced by other affiliated nonprofit organizations. Second, the nonprofit must service only mortgage loans that the servicer (or affiliated nonprofit) has made to creditors. To be a creditor, the servicer (or related non-entity) must be the party to whom the rental car obligation was originally payable (aka the originator of the debt). A nonprofit entity is a nonprofit servicer under §1026.41(e)(4)(ii)(C) if it services any mortgage loan for which the servicer (or an eligible nonprofit entity) is not a creditor ( i.e., an intermediary or affiliated nonprofit is not a sponsor ).The first of the following two examples demonstrates the fact that an Adenine nonprofit entity is a small service provider under §1026.41(e)(4)(ii)(C) because it meets the characterization of a nonprofit entity as a small service. The quotient requirements are consistent with §1026.41 (e)(4)(ii)(C).Another true demonstration relationship in which the nullity will not be authorized as a small servicer under §1026.41(e)(4)(ii)(C) because it does not satisfy §1026.41(e)( 4)(ii) ( DO ).

i Non-profit entity A provides services of 3000 customized mortgages and 1500 mortgage loans with the non-profit entity gesellschafterin BARN. All 4500 mortgages originate from AMPERA or B. The associated non-commercial CARBON inputs benefit from 2500 mortgages, all from her. Because the amount of mortgage loans serviced by a nonprofit entity is determined by counting the number of mortgage loans serviced by the nonprofit entity (including mortgage loans serviced on behalf of affiliated social entities) without counting mortgage loans serviced by included nonprofit for-profit enterprises, A and C are small servicers. § 1026.41 part is 12 CFR part 1026 (Regulation G). When people use consumer credit, the OMEGA regulations cover them.

2. Non-legal entities servicing 4,500 mortgages - 3,000 mortgages originated by It, 1,000 mortgages originated by banks to affiliated non-profit entities and 500 mortgages originated by non-Inorated Neheritoff. The nonprofit is not a small servicer because it services mortgage advances and neither it nor the affiliated nonprofit are creditors even though they service fewer than 5,000 mortgages.

See Interpretation 41(e)(4)(ii) Definition of small servicer. completing himself

1.Loans acquired through merger or acquisition.Any loan obtained by the Servicer or an Affiliate as part of a merger or acquisition, or upon the acquisition of any property or liability of an Affiliate of an Adenine Creditor, shall be deemed a collateral loan of the Servicer or an Affiliated Servicer originally due to Pay the Mortgagors. An affiliate is an office approved as an affiliate of a federal or state regulatory agency or a for-profit mortgage lender (other than a depository institution), that uses public debt to make loan applications.

2.Time allocated by a small service provider.The following indicates when a servicer is or is no longer considered a small servicer under §1026.41(e)(4)(ii)(A)​​press (C):

i Assume that a servicer (certified as a small servicer on January 1 of the current year) begins servicing more than 5,000 mortgages on October 1 and begins servicing more than 5,000 mortgages on January 1 of the following year. The service will no longer be reviewed as a minor service on January 1 of the following year and must comply with all requirements in order for the above to cease to be a minor service exception on April 1 of the following year. If you meet the eligibility criteria, you can complete an annual mortgage on Adenina... Requirements for the HECM option, such as annual payment limits,...

IIS. Assume that a servicer (who qualifies as such a small servicer as of January 1 of the current year) begins servicing more than 5,000 mortgages on February 1 and begins servicing more than 5,000 mortgages on January 1 of the following year. The servicer will no longer be considered a small servicer on January 1 of the following year and must meet all requirements to cease to be a small servicer exemption on January 1 of that year.

3. Suppose a servicer (who qualifies as a small servicer on January 1 of the effective time) starts servicing 5,000 more loans on February 1, but starts servicing 5,000 less on the next mortgage starting January 1. Waitership is considered a small service for the next year. How can I dispute a mistake or request information about a secret mortgage? |Office for Environmental Protection of Financial Consumers

3.Mortgages look at whether the repairer is small.Mortgages not considered for use under §1026.41(e)(4)(iii) under §1026.41(e)(4)(ii)(A) ​​continue to be considered in determining whether a servicing mortgage (together with any affiliates) advances of $5,000 or less or adenoline servicers that service only computer-owned or originated (or related) mortgages. For example, let's say Ampere Servicer is servicing 5400 loans. Of those mortgages, 4,800 mortgages were otherwise owned by the servicer and 300 loans were not owned or originated by Gewollt Business, and the servicer was not compensated or paid a fee and serviced 300 reverse mortgage transactions. Under §1026.41(e)(4)(iii)(A), voluntary mortgages and reverse mortgages are not considered servicers that meet the definition of a small servicer. Therefore, because only the 4,800 mortgages owned or originated by the servicer are considered in determining whether the servicer meets the qualifications as a microcomputer, the servicer satisfies §1026.41(e)(4)(ii)(A)​​and in the 5,400 mortgage services.

4.Negligible mortgages determine whether a nonprofit will remain a small repairer.Mortgages not considered subject to §1026.41(e)(4)(ii)(C) under §1026.41(e)(4)(iii) are disregarded in determining non-profit interest mortgage 5000 or less Loans considered, including any a mortgage loan serviced on behalf of an affiliated nonprofit entity or designated by the nonprofit entity as the exclusive mortgage servicer, ensures that the entity or affiliated nonprofit entity originates. For example, suppose that Ampere Servicers, a not-for-profit entity, services 5,400 mortgages. Of the actual loans, non-profit programs provided 2800 mortgages and non-profit entities 2000 mortgages. Community entity nimmt provides recovery services for loans initiated by affiliated non-profit organizations. The nonprofit also voluntarily serviced 600 mortgage loans originated by an entity for which there is no partner nonprofit and received no fee or fee for servicing the loans. Voluntary mortgages are not taken into account when determining whether a servicer is eligible for a microcomputer. Therefore, because only 4800 mortgage loans originated by unincorporated entities or related nonprofit entities are reviewed to determine whether the servicer qualifies as a small servicer, the servicer satisfies §1026.41(e)(4)(ii) (C) View all 5400 mortgage that benefits.

5.Voluntary mortgage repayment has limited application.Reverse mortgages and mortgages offered by consumers interested in condominium programs are exempt from the requirements of §1026.41, except that they are not subject to the small servicer qualification test. Conversely, although voluntary maintenance mortgages are also not considered in determining small servicer status as defined in §1026.41(e)(4)(iii)(A), they are not exempt from § Except the requirements of 1026.41. Therefore, a servicer that does not qualify as a small servicer does not have to make periodic statements about reverse mortgages and timeshare programs because they are exempt as they prevail, but it must make periodic statements about its voluntary mortgages.

See 41(e)(4)(iii) to explain the narrow definition of service provider. in appendix one

1.Consumer representative.If any consumer representative, such as the aforementioned consumer claims attorney,1) or (e)(5)(ii), the request is deemed to have been made by the consumer.

2.More apps.Consumers under §1026.41(e)(5)(i)(B)(1) or (e)(5) (ii) the servicer cancels or resumes (as applicable) the periodic statement or coupon book to determine whether the exception in §1026.41(e)(5)(i) applies.

3.Valid upon receipt.Consumers have the right to §1026.41(e)(5)(i)(B)(1) Instead of (e)(5)(ii) applies from the date of receipt by the Servicer.

4.Bankruptcy cases were reopened.If the consumer's bankruptcy case is reopened, for example, if the court reopens a previously dismissed case or reopens the case, §1026.41(e)(5) may again apply, including §1026.41(e)(5)(iv).

See interpretation 41(e)(5) Definition of insolvent consumers. in appendix one

1.multiple payers.When two or more consumers are jointly and severally liable under §1026.41 for adenine mortgage, §1026.41(e)(5)(i) applies if any of those consumers meet the sein criteria. For example, a collection agency where two couples jointly own an adeno and are both principal debtors on the mortgage. Personal life files for Chapter 13 bankruptcy and has adenine bankruptcy plan such as a foreclosed home offer. In part, §1026.41(e)(5)(i) exempts a servicer from providing periodic mortgage monitoring statements unless one spouse requests in writing that the servicer provide a periodic statement coupon book in accordance with § 1026.41(e) (5) ( ii). If any spouse, including a non-filing applicant, submits a written request to receive a periodic statement or credit booklet, the servicer must provide a periodic statement or voucher booklet for that mortgage account.

See explanation of exception 41(e)(5)(i). in appendix one

1.bankruptcy plan.For §1026.41(e)(5)(i)(B)(2), a bankruptcy plan is a bankruptcy plan that has just been filed by a consumer under Title 11 of the US Securities and Exchange Code, and must be confirmed or approved by the court that oversees consumer bankruptcy cases whenever they occur.

See interpretation of section 41(e)(5)(i)(B)(2). completing himself

1.Post an away goal.For purposes of §1026.41(e)(5)(i)(B)(4), the expression of interest is the most recent expression of interest submitted by the consumer. For example, if a consumer files a statement of intent on June 1 stating that he intends to waive the home insurance mortgage, but on June 15 he files an amended statement of intent stating that he intends to retain residence, the consumer6 The March 15th statement of intent is pursuant to §1026.41(e)(5)(i)(B)(4).

See the assessment in paragraph 41(e)(5)(i)(B)(4). completing me

1.Recurring declaration or receipt reserve form.Section 1026.41(e)(5)(ii) generally requires a servicer, notwithstanding §1026.41(e)(5)(i), if a consumer in bankruptcy reaffirms personal liability and mortgages pending the provision of adenine normal Any consumer statement or passbook coupon or mortgaged residence may request a written periodic statement or coupon booklet from the servicer. Whether a servicer offers a periodic movement statement or coupon reserve as amended by §1026.41(f) or an unamended periodic production or coupon book depends on whether §1026.41(f) applies to the mortgage at that time. For example, §1026.41(f) does not apply to Ampere Mortgages where the consumer has reaffirmed limited intimacy; therefore, upon confirmation by the consumer, the servicer will generally offer the above modification in accordance with §1026.41 and without the provisions of §1026.41 (f) periodic publication or presentation of the voucher.LookComment 41(f)-6. Abteilung 1026.41(f) applies, however, with respect to mortgage loans, upon the consumer's written request for a periodic statement or coupon book, whenever any beneficiary of such mortgage becomes bankrupt or has a personal limited liability mortgage; therefore, upon such written request, the servicer must submit a statement of correctness or coupon booklet incorporating the above modifications specified in §1026.41(f).

Go interprets 41(e)(5)(ii) Reconfirmation or consumer request to obtain statement or coupon book. Supplement one

See 41(e)(5)(iv) to explain post-transition compliance timing. iodine supplement

1.Section 1026.41(f) becomes or ceases to apply.Section 1026.41(e)(5)(iv) specifies the time period within which the servicer must first submit a statement of regularity or voucher booklet after the mortgage loan complies with §1026.41(f) or ceases to comply with the requirements of §1026.41(f) . AMPERA mortgages are subject to the requirements of §1026.41(f), for example, that each mortgagee becomes a bankrupt debtor or is personally liable for the discharge of the mortgage. Home loans may no longer be subject to the requirements of section 1026.41(f), for example, when the consumer reasserts personal liability for the mortgage in bankruptcy or if the consumer's application is closed or dismissed without the customer paying the personal mortgage obligation.LookComments 41(f)-6.

2.The service provider is no longer authorized to forward the exception to someone.§1026.41(e)(5)(iv) specifies to whom the servicer must provide the periodic statement or voucher booklet the first time after the servicer no longer qualifies for an exemption under §1026.41(e)(5) period of time) (i) for residential credit. Servicers no longer qualify for forgiveness under §1026.41(e)(5)(i) with respect to mortgages such as:

i The buyer's bankruptcy case is dismissed or closed, and the consumer is not released from personal liability for the mortgage.

6. The subscriber submits a revised bankruptcy plan or statement of goals, which provides, if applicable, for the maintenance of mortgage payments and pre-filing payments, or the consumer will maintain the home security for the mortgage loan.

Triad. Consumers making partial or regular mortgage payments, even bankruptcy sellers who file a statement of intent to leave their home to obtain a mortgage, thereby making §1026.41(e)(5)(i)(B)(4) Does not apply;

4. Reaffirm personal liability for mortgage to consumer of record or

c. Final submission of a written request to which §1026.41(e)(ii) applies, requesting that the servicer continue to provide periodic instructions or a coupon book.

See 41(e)(5)(iv)(A) for an explanation of the triggers associated with switching to amended and unamended periodic statements. in appendix one

1.bell.§1026.41(e)(5)(iv)(B) applies to one periodic statement in the voucher book after the events listed in §1026.41(e)(5)(iv)(A). For example, suppose a mortgage has a monthly billing cycle, the payment event is on the first day of the hour after the corresponding billing cycle, and each delinquent day has a 15-day grace period. In this case:

i If the event specified in §1026.41(e)(5)(iv)(A) occurs before October 6, if the payment due date is October 1, before the end of the 15-day grace period, the Provider is not required to provide a periodic statement or form book for this billing cycle with a payment due date of November 1 if not already provided. Servicers must then cause periodic statements or offers that comply with §1026.41 to be reinstated by providing revised or unchanged billing cycle periodic statements or coupons using a payment date of December 1 within a reasonable time after the 15-day grace period offered for payment due date 1 November.I'm watching§1026.41(b).

II. If the event specified in §1026.41(e)(5)(iv)(A) occurs on October 20, after the end of the 15-day grace period that provides a payment due date of October 1, the servicer shall promptly deliver the statement or voucher book for the cycle invoice of the regular payment period from November 1, the servicer is still not obliged to correct that periodic opinion or voucher booklet that has already been submitted and is released by providing the next periodic statement or voucher showing that it is necessary Otherwise in the billing cycle December 1 due date payments. Servicers must then continue to offer periodic descriptions or token books to satisfy the requirements of §1026.41 to provide amended unamended periodic descriptions or token issues for the billing cycle within a reasonable time period from December. Deadline is January 1 January 1 or wait until December First payment deadline for 15-day offer period expires.Control§1026.41(b).

2.No need for double coupon books.If a servicer provides a voucher booklet in lieu of a periodic statement under §1026.41(e)(3), §1026.41 requires the servicer to provide a voucher booklet before one of the events published in §1026.41(e) (5)(iv) . ) New Voucher Book) (A) appears only if the Servicer has not previously provided the customer with a Voucher Book covering the upcoming billing cycle.

3.The following trigger events.The single statement exception in §1026.41(e)(5)(iv)(B) may apply more than once during the life of the loan. For example, suppose the discharge takes effect on April 14 because the consumer filed for bankruptcy on that date and the bankruptcy order mandates that the consumer intends to surrender the residence in order for the mortgage to be subject to §1026.41(f).Look§1026.41(e)(5)(iv)(A)(1If the consumer leaves the creditor later than November 2 and becomes personally liable for the unpaid mortgage under 11 U.S.C. 727, 1141, 1228, or 1328, so the mortgages no longer apply under §1026.41(f), and the individual statement exemption will apply again anfangsdatum November 2.Look§1026.41(e)(5)(iv)(A)(2).

See explanation 41(e)(5)(iv)(B) exemption from statement. I do it myself

1.Transfer of ownership.If the foreclosed mortgage is subsequently purchased, secured, or assigned, §1026.39(b) requires the insured (as defined in §1026.39(a)(1)) to provide notice of the assignment of the mortgage.Look§1026,39.

2.Service changes.Providers are permitted to use the exception in §1026.41(e)(6)(i), subject to compliance with the requirements of this paragraph, and may rely on prior service to consumers in connection with periodic statements under § 1026.41(e)) ( 6 )( i)(B) Unless the provider provides periodic advice to the consumer in accordance with §1026.41(a).

41(e)(6) Offset Loan Notice Explanation. increasing me

1.Clear and obvious.Section 1026.41(e)(6)(i)(B) requires periodic statements to be clearly and conspicuously marked "Suspension Statement and Sublease Report - Retain this copy when forwarding your records" and to clearly and conspicuously provide certain Explain who the client ( as the case may be), but no minimum font size or other technical works are imposed. The clear and conspicuous standard generally requires that the disclosure be in a form that is reasonably understandable and readily perceived by consumers.LookAs 41(c)-1.

See interpretation in paragraph 41(e)(6)(i)(B). in appendix one

1.Ensure this after the end of the bankruptcy proceedings.The exceptions set forth in §1026.41(e)(5), §1026.41(f), apply to mortgage loans under title 11, U.S.C., in the event that all consumers with primary responsibility are borrowers. §1026.41(f) continues to apply for this purpose after the debtor exits the bankruptcy proceeding, discharging personal liability for the mortgage advances, but §1026.41(f) if the consumer has personal liability for the reconstruction mortgage or someone else does not exempt the personal liability for mortgages does not apply.

2.condition.In connection with the periodic statement specified under §1026.41(f), the servicer may use different terminology than in the above example of the interim statement in Exhibit H-30, so that the new vertical terminology is the commonly understood terminology.I'm watchingComment 41(d)-3. For example, a partner may consider general applicability to consumers in bankruptcy and refer to a "payment amount" as defined in §1026.41(d)(1) as a "payment amount." For example, a service provider may certify up to the amount owed that is identified as a "previously unpaid amount" in §1026.41(d)(2)(iii). In addition, servicers may report delinquency information defined in §1026.41(d)(8) as “account history” and refer to §1026.41(d)(8)(vi) to add an “outstanding amount” to that account. the total payment amount required for the stream'.

3.Other cycle orders must be applied.The requirements of §1026.41, including the content and provisions requirements of §1026.41(d), apply unless specifically modified by §1026.41(e)(5) or (f). For example, section 1026.41(d)(3) requires periodic statements given to unamended consumers in bankruptcy to truthfully report past payments.

4.to make.If pursuant to §1026.41(f), the periodic notice or voucher book may be amended as necessary to facilitate compliance with title 11 of the Uniform State Code, federal rules are Creditor Instructions, court orders, and local rules, guidelines, standing orders. For example, Ampere's statement of fitness or coupon book may contain additional disclosures or disclaimers not required by §1026.41(f) but relating to the consumer's status as a debtor in bankruptcy, instead of recommending that the consumer file a written request under §1026.41(e )(5)(i)(B)(1).LookComment 41(f)(3)-1.ii addresses a remedy for bankruptcy plans that change the terms of mortgage loans, such as reducing delinquent mortgage accounts or changing the applicable interest rate.

5.Start compliance.The servicer must begin offering periodic statements or coupon amendments that comply with paragraph (f) of this section within the time frame specified in §1026.41(e)(5)(iv).

6.repeat.For purposes of §1026.41(f), reiterate that a consumer who is personally liable for a mortgage loan is considered a debtor upon filing.

See Note 41(f) Amended Periodic Reports and Voucher Literature for Certain Final Bankruptcies. Refill one

1.Payment before registration and payment after registration.j For purposes of §1026.41(f)(3), cash advances are payments made to cover a consumer's pre-bankruptcy defaults, and post-filing payments are payments made to cover regular mortgage payments due after the bankruptcy is filed. For example, let's say that on a mortgage that requires regular payments of $2,000, $3,600 is in arrears at the time of filing for bankruptcy. A settlement plan recently filed by a consumer requires the consumer to pay $100 per month for 36 months to cover pre-bankruptcy arrears and $2,000 per month to cover monthly regular payments. Assuming the consumer pays and collects on schedule, the $100 installment payment is a pre-filing payment and the $2,000 payment is a post-filing payment pursuant to the disclosure required by §1026.41(f)(3).

II. If the consumer is a hardened Chapter 12 debtor or if the consumer's bankruptcy plan modifies the terms of the mortgage, such as reducing the amount owed on the mortgage or changing the applicable gross interest rate, then in accordance with §1026.41(d) ( 1 ) and (2) and ( f)(3)(ii) and (iii) may disclose the amount payable under the original terms of the mortgage, the amount payable under the remaining secured portion of the adjusted mortgage, or direct the consumer to refer any questions about the amount owed to their trustee or consumer representative. In such case, the remaining notice under §1026.41(d) or (f)(3), as applicable, may be limited to the cash flow applicable to the remaining secured portion of the mortgage loan.

2.Fees and charges per application.For purposes of §1026.41(f)(3), post-filing fees are fees and charges imposed after the filing of a bankruptcy proceeding. If the consumer bankruptcy court requires further fees after amending the certifications filed by the servicer, the servicer may include those fees and expenses in the pre-filing balance and amount due in §1026.41(f)(3) )(v)( C ) instead of we treat as post-filing fees and charges for purposes of §1026.41(f)(3).

3.Article 1 states that the exemption ceases to be valid.Sections 1026.41(f)(3)(iii) through (v) require disclosure of certain information about account activity that has occurred since the last statement. For purposes of the first periodic statement filed with consumers after discretionary termination under §1026.41(e), records of account activity occurring for further testimony may be limited to those occurring since the last payment termination date. Dismissal of account activity takes effect.i seeAs 41(d)-5.

Understand Consumer Interpretations 41(f)(3) of Chapters 12 and 13 of the ADA

1.Amounts to be paid.Amounts payable under §1026.41(d)(1) need not include amounts other than post-petition payments ultimately due under the terms of the bankruptcy plan, including post-petition payments for all past delinquencies, as well as fees and services after reporting Staff are billed per day. Providers are not required to include in the amounts to be paid advances made in accordance with the bankruptcy plan or other amounts paid in accordance with a court order. The Provider is not obliged to include in the current amounts any post-application fees and charges not implied by the Provider. A servicer is late in collecting AMP fees or charges after performing a 3002.1 operation under the federal bankruptcy rules and therefore does not have to disclose the fees or charges until it complies with such operation after the prospective food destination decides whether to allow the fee or charge. However, the service provider may include in the amount owed other amounts paid to the service provider that are not post-application payments or fees or charges, such as amounts owed under a contract, provided that such other amounts are owed Explanations of amounts and commercial activities are disclosed separately.

See 41(f)(3)(ii) for translation of amounts due. in appendix one

1.Indicates a due number.Whoever interprets under §1026.41(d)(2) that the amounts payable need not include all amounts other than post-filing payments, including all amounts of late post-filing payments and post-filing fees for continued service billing. Pursuant to §1026.41(d)(3)(i), the required post-filing payment is itemized by amount if each amount relates to principal, interest, and a deposit. Service providers are not required to disclose advances or amounts owed by consumers prior to bankruptcy, some of which will come from the amount owed. However, the servicer may identify other amounts owed to the servicer, provided those amounts are also disclosed, including amounts owed and transaction activity.they understandYour 41(d)-4.

See 41(f)(3)(iii) for an explanation of the Statement of Liability for Amounts Due. completing himself

1.Late applications.If the subscription delays are disputed or if the servicer has not determined their characteristics, the repeat statement may include an AMP statement responding to the outstanding amount of the subscription delay. A servicer may disregard the information required by §1026.41(f)(3)(v) by electing to participate in the periodic reports until the servicer has had a reasonable opportunity to determine the total amount owed prior to filing. The servicer must not omit the information required by §1026.41(f)(3)(v) from the next periodic statement until the date the bankruptcy court decides to file a proof of claim in the consumer's bankruptcy.

See 41(f)(3)(v) for explanation of late payment in advance. in appendix one

1.Change the statement.Pursuant to § 1026.41, when two or more consumers are jointly responsible for the principal mortgage obligation, the servicer may send periodic statements to any of the principal obligors.accessNote 41(a)-1. Section 1026.41(f)(4) states that a servicer may provide a revised statement under §1026.41(f), if applicable, to any or all principal debtors, even if the principal debtor to whom the servicer provides the revised statement is not an insolvent debtor. The service provider is not obliged to submit an unmodified einem statement to any client. For example, let's say two spouses jointly own a home and one of them is primarily responsible for the mortgage. One spouse files for Chapter 13 bankruptcy, and that spouse's Chapter 13 bankruptcy plan provides for the same spouse to keep the home through pre- and post-filing payments. The provider addresses §1026.41 by providing each spouse with the above amended periodic statements in accordance with §1026.41(f).

2.Among the debtors are various bankruptcy funds.For multiple consumers who are jointly and severally liable for a mortgage subject to §1026.41 and are debtors under different bankruptcy chapters, only one of which is subject to §1026.41(f)(3), the servicer may, but Requests No., including the modifications set forth in § 1026.41(f)(3). For example, assume one joint debtor is a debtor in a chapter 7 case and the other joint debtor is a debtor in a chapter 13 case, and the servicer is not exempt from periodic filings under §1026.41(e)(5). The periodic button statement redemption books are subject to the changes set forth in §1026.41(f)(1) and (2), except that the Servicer may determine whether it is reasonable to include the changes set forth in §1026.41(f). )(3).

See 41(f)(4) Interpretation of Multiple Obligations. in appendix one