Posted By: CindyS
When is a Coupon Book or Periodic Stmt Required? - 10/26/21 07:30 PM
On Closed-end loans, I'm trying to figure out if any of our loan types require either a Coupon book or Periodic Statement.
We qualify as a small servicer so 1026.41 on residential mortgage loans does not apply to us. Are there any other Regulations or legal requirements to provide a coupon book or monthly billing on any other types of closed end loans?
We originate and service fixed rate loans that are sold to Fannie Mae through FHLB. I've tried looking to see if they have a specific requirement, but haven't found anything yet.
Thanks for any help!!
We qualify as a small servicer so 1026.41 on residential mortgage loans does not apply to us. Are there any other Regulations or legal requirements to provide a coupon book or monthly billing on any other types of closed end loans?
We originate and service fixed rate loans that are sold to Fannie Mae through FHLB. I've tried looking to see if they have a specific requirement, but haven't found anything yet.
Thanks for any help!!