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#2240862 - 08/11/20 12:01 AM Statements for Mortgages - Small Servicers
Mel in WA Offline
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Joined: Mar 2013
Posts: 1,183
According to 1026.41(e)(4), small servicers are exempt from all of 1026.41 (periodic statements), but we are sending them to non-coupon book customers. Any other small servicers doing the same? Is it for customer service reasons?

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#2240863 - 08/11/20 12:40 AM Re: Statements for Mortgages - Small Servicers Mel in WA
Inspector Offline
Gold Star
Joined: Apr 2016
Posts: 269
I have seen quite a few "small servicers" send statements to customers when not required. Most of the time I have seen it described as being for customer service reasons, it works as another option for marketing, and that customers pay sooner when there is a statement.
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#2240867 - 08/11/20 01:28 PM Re: Statements for Mortgages - Small Servicers Mel in WA
waldensouth Offline
Power Poster
waldensouth
Joined: Nov 2001
Posts: 7,980
FINALLY ABOVE the gnat line
It's also state law in some states - New York comes to mind.
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