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#2225749 - 11/16/19 01:09 PM first periodic statement after loan transfer
lmbcomply Offline
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Joined: May 2019
Posts: 4
Section 1026.41 states that YTD information must appear in the statement on a monthly basis. With a transfer of servicing should the YTD block on the statement show the entire calendar year with information from the old servicer and new servicer or just the new servicer information and only their year to date information once getting the loan?

For example - Old servicer will cut statements for December 1 payment in November with their full ytd information. New servicer will get December payments and issue a statement mid December for the Jan 1 payment. The December statement (for the Jan payment) should reflect the full YTD information for calendar year and not just the December figures for payments transactions.

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Mortgage Servicing Rules
#2225751 - 11/16/19 01:42 PM Re: first periodic statement after loan transfer lmbcomply
rlcarey Online
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Joined: Jul 2001
Posts: 79,254
Galveston, TX
I am not aware of any provisions that would alter the required information that appears on a periodic statement due to the fact that a servicer has changed. The only such provisions involve the first periodic statement after the loss of an exemption and than only a partial exemption involving activity since the last statement under .41(d)(2)(ii), (d)(3)(i), and (d)(4).
The opinions expressed here should not be construed to be those of my employer:

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