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#2231876 - 02/27/20 03:26 PM HELOC Periodic Statement and Interest Only Payment
Cloud9 Offline
100 Club
Joined: Jul 2008
Posts: 208
Our system allows us to provide a statement message on HELOCs indicating the impact of having an interest-only payment schedule. I am being asked if this is required by the regulation or not. I have reviewed the open-end periodic statement requirements and I don't see this specifically mentioned. Am I missing something?

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Lending Compliance
#2232011 - 02/28/20 01:32 AM Re: HELOC Periodic Statement and Interest Only Payment Cloud9
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,365
Galveston, TX
No - such disclosures are required on credit card statements, but not on HELOCs.
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