Thread Options Tools
#2126886 - 04/18/17 11:12 PM Short Year Escrow Statements
Jay McGee Offline
Member
Joined: Apr 2016
Posts: 62
Good Afternoon,

If a loan is sold in the private market to an investor, should we send a short year escrow statement to the borrower?

Compliance Research.

§1024.17(i)(4)(ii)
Short year statement upon servicing transfer. Upon the transfer of servicing, the transferor (old) servicer shall submit a short year statement to the borrower within 60 days of the effective date of transfer.

https://www.consumerfinance.gov/eregulations/1024-17/2015-18239#1024-17-i-3

Return to Top
General Discussion
#2126891 - 04/18/17 11:41 PM Re: Short Year Escrow Statements Jay McGee
rlcarey Offline
10K Club
rlcarey
Joined: Jul 2001
Posts: 78,971
Galveston, TX
Yes
_________________________
The opinions expressed here should not be construed to be those of my employer: PPDocs.com

Return to Top
#2126906 - 04/19/17 11:46 AM Re: Short Year Escrow Statements Jay McGee
Jay McGee Offline
Member
Joined: Apr 2016
Posts: 62
Thanks Sir.

Return to Top