(a) In basic —
1. Recipient of regular declaration. Whenever two individuals are joint obligors with main obligation on a closed-end credit rating transaction guaranteed with a dwelling susceptible to § 1026.41, the regular declaration could be delivered to just one of these. The servicer need not send statements to both spouses; a single statement may be sent for example, if spouses jointly own a home.
2. Payment cycles smaller compared to a period that is 31-day. A bi-weekly billing cycle), a periodic statement covering an entire month may be used if a loan has a billing cycle shorter than a period of 31 days (for example. Such declaration would individually record the payment that is upcoming times and amounts due, as required by § 1026.20(d)(1), and list all deal task that happened through the relevant time frame, as needed by paragraph (d)(4). Continue reading “§ 1026.41 Regular statements for res”