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#1160573 - 04/09/09 02:25 PM Payment History Record Retention
Comply Offline
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Joined: Oct 2003
Posts: 291
Does anyone know the retention period for payment histories on a mortgage loan? and are they different for a consumer loan, heloc etc??

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General Discussion
#1161203 - 04/09/09 11:57 PM Re: Payment History Record Retention Comply
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 78,649
Galveston, TX
What do you mean may payment history? The history of payments on a loan should be maintained for the life of the loan and then until the statute of limiations runs out or in compliance with other retention law or regulation.
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#1161521 - 04/10/09 03:43 PM Re: Payment History Record Retention Comply
Richard Insley Offline
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Richard Insley
Joined: Oct 2000
Posts: 10,036
Toano, VA
Go here and search for the term "qualified written request." This is the reason you must retain payment details for the life of a RESPA-covered mortgage loan.
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