Does anyone know which language on the CFPB's sample H-30(F) periodic statement for consumers in Chapter 12/13 bankruptcy is designed to meet the requirements of Section 1026.41(f)(3)(vi)(A)?

Specifically: "(A) A statement that the amount due includes only post-petition payments and does not include other payments that may be due under the terms of the consumer’s bankruptcy plan;"

I can't seem to find any language on the new H-30(F) model periodic statement that meets this requirement. Any ideas??

See the actual Federal Register:

https://s3.amazonaws.com/files.consumerf...tgage_Rules.pdf

John has not added the model forms for the April 2018 effective date yet to the BOL regulatory page.

Hi rlcarey,

My apologies, I wasn't very clear. I have the model forms themselves, however, my problem is that I don't see anything on the H-30(F) that appears to meet the requirement of a statement that the amount due includes only post-petition payments, and that it does not include other payments that may be due under the terms of the consumer’s bankruptcy plan.

I'm essentially just trying to spot what language on the H-30(F) meets this requirement. I see some language that is somewhat similar, but nothing that seems to meet the entire requirement of 1026.41(f)(3)(vi)(A).

OK - Sorry, I see that now. I agree, there does not appear to be such a statement on the model forms. However the preamble states:

"The Bureau is renumbering this provision as § 1026.41(f)(3)(vi) and mandating a new disclosure relating to post-petition delinquency when applicable. The Bureau is otherwise adopting the provision substantially as proposed, with minor revisions to improve clarity. Section 1026.41(f)(3)(vi) requires a servicer to include five additional statements on the periodic statement, as applicable, when a consumer is in chapter 12 or chapter 13 bankruptcy. Under the final rule, servicers have flexibility to determine where on the periodic statement the disclosures will appear."

So, I think you are free to place the statement anywhere on the statement that you wish. And I would say that the statement required is simply a regurgitation of the regulatory requirements, i.e., The amount due (reflected on this statement) includes only post-petition payments and does not include other payments that may be due under the terms of the consumer’s bankruptcy plan.

Rlcarey - Thanks, I agree we could place such a statement on the statement itself, and that the statement should basically regurgitate the Reg. Z language.

The more I stare at the H-30(F) sample, I'm wondering if perhaps the sub-header in the Explanation of Payment Amount box which says “Post-Petition Payment”, along with the italicized statement also appearing in the Explanation of Payment Amount box which states “The Payment Amount does not include any amount that was past due before you filed for bankruptcy.” Is intended to meet the requirements of § 1026.41(f)(3)(vi)(A).

Well there is plenty of time before the mandatory compliance date. You might want to jot off your question to the CFPB at cfpb_reginquiries@cfpb.gov . They are pretty good at responding.

Already sent, thanks.