The CFPB now wants comments on a prototype monthly mortgage statement.  The form already has been through one round of testing, and two more rounds are planned.

Despite industry opposition, the Dodd-Frank Act included a requirement for creditors, assignees or servicers of mortgage loans to provide periodic statements to borrowers containing specified information and directed the CFPB to develop a model form for the statements that takes into account the possibility of either written or electronic delivery.… Continue Reading