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How Many Days in Advance for Monthly Bill Notice?

Question: 
How many days in advance is required on a consumer mortgage loan monthly billing notice? Where can I find documentation on this requirement?
Answer: 

Answer by Randy Carey: There currently is no regulatory requirement to send monthly mortgage statements, unless required by State law.

Answer: 

Answer by Richard Insley: Check your note (and other contract documents) to see if they create this obligation. Also review any investor requirements.

First published on BankersOnline.com 5/7/12

First published on 05/07/2012

Filed under: 
Filed under lending as: 

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