Introduction to Mortgage Servicing Examinations Training - March 2023

Review First Page Items or Separate Page/Letter Enclosed with Statement Partial Payment Information Delinquency Information ( > 45 days)

• Length of delinquency • Possible risks • Account history • Loss mitigation program

•When a partial payment was placed in suspense or unapplied funds account • Include what must be done

• Foreclosure process • Total amount needed • Homeownership counselor info

Review Other Items – Not Required on the First Page Transaction Activity • Listed with date, description

Account Information • Outstanding principal balance • Current interest rate • Date rate may next change • Prepayment penalty • Homeownership counselor info

& transaction amount that causes a credit or debit to amount currently due