Mortgage Loan - Billing Statement Example (Page 2 of 4) in pdf

Mortgage Loan - Billing Statement Example Page 2

Statement Date – Date the statement was printed.

Loan Number – Displays the account number for the loan.

Interest Rate – Interest rate at which the billing is calculated.

Type of Loan – Defaults the type of the loan. (5Yr Adj, Variable Rte, or

Variable ITL, etc)

Sequence Number and Special Handling Code – The bill file assigns a

sequential number to the billing statements to insure all statements that were

printed matches up with the statements mailed. The second number

designates the Special Handling Code assigned by the association.

Servicing Loan Officer – Displays the servicing loan officer’s name, association

office and phone number.

Balances Prior to Billing Transactions are Shown Below – Displays balances,

as of the statement date, for the following accounts:

• Principal

• Installment Fund

• Reserve Fund

• Undisbursed Loan Proceeds

• Insurance Loss Proceeds

Customer Name and Address – Displays the borrower’s name and address.

• First Line – Borrower Name from Account Title 1.

• Second Line – Borrower Name from Account Title 2.

• Third Line – Address Line 1 from loan address.

• Fourth Line – Address Line 2 from loan address. (if applicable)

• Fifth Line – City, State, and Zip Code from loan address.

Any Transactions to this Loan On or After Statement Date Could Affect Amount

Due – Disclosure message regarding changes to the billed amounts if

transactions are applied between statement date and the due date of the loan.

10. Effective Date Column – Displays the effective date of the items listed in the

body of the statement. Effective dates listed next to an amount due represent

the due dates.

11. Interest Rate Message – Displays the interest rate changes that occurred on

the loan since the last billing.

12. Interest Column – Displays any interest information that is due or is an interest

credit. Read the item listed in the Description column next to the interest

amount to determine if it is a due item or credit item.

Mortgage Loan - Billing Statement Example Page 2