We’re pleased to report the following copy change enhancements to the CFPB compliant monthly periodic statement:
In the Explanation of Amount Due section of the statement the following copy was changed:
Overdue Payment to Overdue Amount;
Regular Monthly Payment to Regular Monthly Payment Due (MMDDYY) – (pulling in the payment due date for which the bill is being generated).
Total Fees Charged to Total Fees Charged Since Last Statement
In the Past Payments Breakdown section of the statement copy Paid Last Month was changed to Paid Since Last Statement
For Foreclosure and Loss Mitigation Loans only, under the Important Information Section, the word “Loan” was added in front of “Statement” so it now reads: This Loan Statement is for INFORMATIONAL PURPOSES ONLY.
We will continue to look for ways to enhance and improve our monthly periodic statements to better serve you and your borrowers.