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Home » CFPB Releases Prototype Servicer Billing/Disclosure Statement
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CFPB Releases Prototype Servicer Billing/Disclosure Statement

February 21, 2012
The Consumer Financial Protection Bureau released a draft monthly mortgage statement last week that the agency hopes will make it easier for homeowners to understand their mortgage and get a better handle on costs and fees. Compliance by mortgage servicers and creditors might get a boost in the process. The model document that was issued includes the principal, the current interest rate, the next date on which the interest rate may change, a description of late payment fees and a telephone number and email address that may be used to contact the servicer...
News Inside Mortgage Finance Inside the CFPB Servicing Legislation
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