Explanation of the Recent Account History which Appears in the Delinquency Notice Box of the Periodic Billing Statement

Explanation of the Recent Account History which Appears in the Delinquency Notice Box of the Periodic Billing Statement

The Servicing Director Periodic Billing Statement will produce a Delinquency Notice message box when the number of days delinquent on the loan exceeds 45 days.

The Delinquency Notice contains a Recent Account History.

 

Recent Account History will go back 6 months and may include both paid and unpaid payments due.

The 6 month period is calculated from the Bill Due Date, and includes due dates >=  6 months prior. 

This will give you 6 past due payments, plus the currently due payment.
 

Here is an example of Recent Account History from the Periodic Billing Statement based on a loan with a payment due date (Bill Due Date) for 2/1/14 : 

 

loan due 9/1/13 =  amount due for 9/1 payment + all payments, charges and fees previous to this (in other words, amounts due but not accounted for below)

loan due 10/1/13 =  amount due for 10/1 payment + 10/1 late charge + fees assessed between 10/1 and 10/31

loan due 11/1/13 =  amount due for 11/1 payment + 11/1 late charge + fees assessed between 11/1 and 11/30

loan due 12/1/13 =  amount due for 12/1 payment + 12/1 late charge + fees assessed between 12/1 and 12/31

loan due 1/1/14  =  amount due for 1/1/14 payment + 1/1 late charge + fees assessed between 1/1 and 1/31

loan due 2/1/14  amount due for 2/1/14

Total due will equal above amounts

 

 

 


Environment:

Recent Account History in the Delinquency Notice Box

ArticleNumber:

000051425

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