How to Read Your Mortgage Statement 1Property Address. The address for the property that is secured by your mortgage. MONTHLY BILLING STATEMENT Statement Date: 3/20/2012 PO Box 6172 Rapid City, SD 57709-6172 2 ACCOUNT INFORMATION SECTION 2 Principal Balance. The amount of money you still owe on the loan, not including interest. This is not the amount required to pay your account in full. Escrow Balance. The amount currently in your escrow account. An escrow account is set up as a way to collect funds to pay certain bills associated with your property, such as property taxes and premiums for homeowners insurance, flood insurance or private mortgage insurance. Interest Rate. The current percentage rate you’re being charged for the money you’re borrowing. Interest Type. This is the interest method that is assigned to your mortgage, based on the terms of your loan. It will either be Simple (accrues interest on a daily basis) or Actuarial (accrues interest on a monthly basis). 3 EXPLANATION OF AMOUNT DUE SECTION 1234567 4/1/2012 $1,829.71 Account Number Next Payment Due Amount Due If payment is received after 4/15/12, pay $1,989.71 1-111-TJNUM_1234567-111-2-333-444-555-666 Phone: 1-800-643-0202 Mon - Fri 7AM - 8PM CST Saturday 7AM - 1PM CST Email: customer.service@gtservicing.com Customer Name 1 Customer Name 2 Address 1 Address 2 City State ZIP 1 Property Address City , State Zip Code Account Information Explanation of Amount Due Principal Balance (Not a Payoff Amount): Escrow Balance*: Principal: Interest: Escrow: Regular Monthly Payment: Total Fees & Charges Due: Past Due Amount: Total Amount Due: 2 3 Past Payments Breakdown Interest Rate: (Until October 2012): Interest Type: Paid Last Month Principal Amount Interest Amount Escrow Amount Fees Total Unapplied Amount *Escrow represents monies collected and held by servicer for the future payment of taxes and insurance. Paid Year to Date 4 Transaction Activity Date Description Charges 3/17/12 Late Fee (charged because payment was received after 3/15/2012) Payment Received - Thank you $160.00 Payments $1,669.71 5 Principal Due. The amount of principal you owe on the loan this month. Interest Due. The amount of interest you owe this month. Escrow Due. The amount you owe to satisfy your escrow obligations for taxes and insurance. (See “Escrow Balance” above.) Regular Monthly Payment Due. The sum of the previous three line items (principal, interest, and escrow). Total Fees and Charges. The amount of fees and charges that are imposed on your account this month. Detailed information outlining your fees and charges can be found in the Transaction Activity section of your statement. Past Due Amount. This will appear if you didn’t pay the full amount due on your mortgage in a previous month. Note: Any payments you made after the statement date will not be reflected in this monthly billing statement. Total Amount Due. This is what you need to pay this month, including your regular monthly payment and, if applicable, any past due amount, and fees and charges imposed. 4 PAST PAYMENT BREAKDOWN SECTION Shows how the funds from your payment were allocated for the prior month and year-to-date. 5 TRANSACTION ACTIVITY SECTION Detailed information of fees and charges imposed and/or payments made in the past month. 6 PAYMENT COUPON Total Payment Due. The amount you need to pay this month. Total Payment Enclosed. Write in how much you are paying, whether it’s just the Payment Due or the sum of Payment Due and any Extra Amount. Please make your check payable to Green Tree and write your nine-digit account number on the face of the check. The Green Tree address shown on the coupon should be visible through the window of the payment envelope. Detach and return this portion with remittance -Please make checks payable to Green TreeACCOUNT NUMBER 123456789 EQUAL HOUSING Receipt of a personal check is authorized to collect payment electronically. 6 PAYMENT DUE DATE TOTAL PAYMENT DUE TOTAL ENCLOSED $ LENDER , 11/24/2011 1,980.79 . Enter total amount of payment enclosed GREEN TREE PO BOX 94710 PALATINE, IL 60094-4710 123456789 0 00000000 0000000000 CONDITIONAL INFORMATION One or more of the following items may appear in the Account Information or Payment Due sections on your monthly billing statement, depending on your account activity: Late Fee Balance. Late fees are added whenever your payment is received after the monthly due date. Deferred Balance. Appears if the original terms of your mortgage were modified (See your separate Loan Modification Agreement for details). Corporate Advance Balance. Any servicing–related expenses Green Tree paid on your behalf. The balance is what you will be required to pay once your loan reaches maturity. Prepayment Penalty. This will only appear if your mortgage has a prepayment penalty (not all mortgages do) and you paid extra toward your principal ahead of the repayment schedule. Unapplied Funds Balance. If you send in less than a full payment, this will show the partial payment, which we’ll hold until enough money has been received to make up a full payment. Once a full payment is received, we’ll apply the funds to your account. Incentive Accrual Balance. Appears if your mortgage includes a special incentive being paid to you to make timely payments (not all mortgages do). It shows how much incentive money is being accrued toward your principal. To view your statements online, convert to paperless billing or set up an automatic payment plan, visit our website: www.gtservicing.com.