Mortgage Loan - Billing Statement Example (Page 3 of 4) in pdf

Mortgage Loan - Billing Statement Example Page 3

13. Principal Column – Displays any principal information that is due or is a

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

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

14. Total Amount Due – Displays the total amount due for each specific line item.

Read the item listed in the Description column.

15. Sub-Total Billed Amt – Displays a sub-total amount for the bill representing the

original amount due before any Interest Credit or Principal dollars from escrow

accounts are applied.

16. Interest Credit (Escrow Account name) – Displays total accrued interest, from

the escrow account listed, that will be applied to the payment if the payment is

not satisfied by the due date.

17. Payment From (Escrow Account name) – Displays principal amount, from the

escrow account listed, that will be applied to the payment if the payment is not

satisfied by the due date.

18. Total Amount Due – Sum total of the Total Amount Due column. If the columns

sum to $0.00, then $0.00 displays.

Other Items that can print in the body of the billing statement.

• Informational Not A Bill – Prints on the first line of the body of the

statement if the loan is in Bankruptcy.

• Late Fee – Prints the total late charge fee that has been assessed

against the loan.

• Advances – Total dollars of all advances on a loan.

• Default Interest – Default Interest, including any Miscellaneous Advance

default interest on the loan.

19. Add if Payment Received at Office After – Displays the late fee amount from

the loan.

Add Per Day if payment is Received at Office After – Displays the late charge

per diem if the loan carries default interest.

Both items will print on the statement if applicable.

20. Keep This Portion For Your Records – The printed billing statement (form) has

a perforated line where the customer can tear the bottom portion of the form off

and mail it into the association with the payment. The top portion can be kept

for the customer’s records.

Mortgage Loan - Billing Statement Example Page 3