The Mortgage Servicing Rules require that banks include past-payment breakdowns on periodic statements. Does this apply to periodic statements that are being sent to consumers immediately following a bulk purchase of residential mortgages/servicing transfers? I could not find evidence of an exemption for bulk purchases. Any thoughts?

If the consumer is entitled to receive periodic statements, someone must be providing it to them as required. If you were buying a large number of loans with plans to service them, wouldn't you make arrangements to keep the periodic statements going before you made that purchase? I'm not sure how your institutions choice to purchase a loan comes into play here.

Put another way, IGaev, there is no exception for purchased loans.