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