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BankersOnline.com Forums Dodd-Frank Final Rules Discussions Mortgage Servicing Rules Content of Periodic Statement under 1026.41
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#2004057 - 03/25/15 07:37 PM Content of Periodic Statement under 1026.41
JoAnne Offline
Platinum Poster
Joined: Feb 2001
Posts: 795
Michigan
We are a small servicer and thus exempt from the requirements of the Periodic Statement under 1026.41. However, if we decide to replace our coupon books with periodic statements (leaning that way) is the "Billing Rights" notice required on open end home equity statements also required for closed loan loans?
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Mortgage Servicing Rules
#2004876 - 03/29/15 01:54 PM Re: Content of Periodic Statement under 1026.41 JoAnne
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,417
Galveston, TX
No. Errors resolution for closed-end mortgages would be handled under Regulation X: § 1024.35 - Error resolution procedures.
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