Your billing statement is designed to provide you with all the information you need
to track account activity such as payments made or fees or expenses that we may
pay on your behalf. It also contains important messages that are tailored to the
way you pay your account.
Please make certain that your name and address are shown correctly on the statement.
You may contact us for questions.
Click the given Description
for an explanation of the item in text version.
Move your mouse pointer over the red outline boxes for an explanation of the item.
Statement Date
Your statement reflects all account activity as of this date. Transactions made
after this date will appear on your next statement.
Last Amount Received
This is the last payment we received from you.
Loan Due Date
If this date is different from your Payment Due Date, it means that you are past
due and owe payments from previous months.
Principal & Interest
Your regular monthly payment equals the sum of the principal and interest payment
you agreed to pay in your Note, plus if you escrow, an amount equal to approximately
1/12th of your annual taxes and insurance bill.
Past Due Payments
This is the amount you owe for prior outstanding regular monthly payments.
This Month's Payment
This is the amount you must pay to bring or keep your account current. It is the
sum of your monthly payment which includes principal, interest, and may include
taxes and insurance in addition to any past due payments (if applicable) required
to bring your account current.
Payment Due Date
The date your payment is due.
Expenses Paid by Servicer
Look at the box, "Activity From." If there is a balance under the "Expenses Paid
by Servicer" column, this means that we have paid costs on your behalf that are
reasonable or necessary to protect our interest in the property. These advances
are added to the debt you owe us and are subject to interest at your Note rate
Late Charges
If you paid after the Late Payment Due Date, a Late Charge will show in the "Activity
From" box as well as under "New this Period." We also show a balance of all Late
Charges and Other Fees to date.
Total Additional Amounts Owed
These are amounts you owe in addition to the amount included in This Month's Payment.
Even though, this amount is NOT required to bring your account current, it would
be included in a payoff total. Total Additional Amounts Owed includes the sum of
all late charges, all return check fees, all fees other than late charges and return
check fees, all advances (Expense Paid by Servicer) we have been required to make
on your behalf and accrued interest on those advances.
Unapplied Balance
If you are paid current, this amount will be zero (0). Partial payments or overpayments
are treated as unapplied funds and held separately in suspense until we receive
enough for a full regular payment of principal and interest, at which time we will
credit your account for the full payment of principal and interest.
Total Amount Due
This is the sum of This Month's Payment and Additional Amounts Owed. This is not
the amount required to pay your loan in full. You must contact us at the address
or telephone number shown on the reverse side of the statement for Loan Payoffs.
Activity Section
This section shows the beginning balance and the ending balance during the statement
period for each of the categories shown. It also shows the date and amount of the
payment we received from you and how we applied that payment to principal and interest
and, if applicable, to taxes and insurance. If there is a Late Charge assessed or
Other Fee it will show the amount of that fee and the date it was added to your
account. It will also show Expenses Paid by Servicer that were advanced during the
statement period. Please note the total ending balance at the far right is NOT a
Payoff Quote.
Important Messages
Some of the messages in this section are tailored specifically to how you pay your
bill. For example, if you are severely delinquent (more than 90 days past due) you
will be so advised and reminded of your right to seek loan counseling. If you pay
us less than a regular payment of principal and interest, you will have an Unapplied
Balance which means the amount you pay is held in your account until we receive
an amount equal to a regular payment of principal and interest.
Payment Coupon
This is the most important part of the Statement. It shows This Month's Payment
and the Late Payment Amount if you do not pay by the Late Payment Due Date.
Late Payment Due Date
The date a late charge will be assessed if you do not send This Month's Payment.
Total Payment
This is the amount you are sending us this month.
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