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Mortgage Servicing and Loan Modifications: IDAHO

Idaho Code § 26-31-213

Requirements: Borrower may request from mortgage lender at any time a statement of account’s payments and “total unpaid balance,” to be delivered within thirty days of written request; fee may be charged.

Mortgage Servicing and Loan Modifications: ILLINOIS

735 Ill. Comp. Stat. 5/15-1505.5

Requirements: In a foreclosure action, upon mortgagor’s written demand, mortgagee or mortgagee’s agent shall prepare an accurate payoff demand statement within ten business days after receipt of demand. No fee for first payoff demand statement. One who willfully fails to deliver statement is liable for actual damages or $500 if no actual damages are sustained. 735 Ill. Comp. Stat. 5/15-1505.5.

Mortgage Servicing and Loan Modifications: INDIANA

Ind. Code § 24-4.5-2-209 (Consumer Credit Code)

Requirements: If noncompliance within seven business days of first written request, creditor or mortgage servicer is liable for $100; within seven business days of second request, liable for the greater of $100 or the interest due from date of first request until date of compliance. Cf. § 24-4.5-1-301.5(8) as to applicability to mortgages.

Mortgage Servicing and Loan Modifications: KENTUCKY

Ky. Rev. Stat. Ann. § 286.8-220(2)(e) (West)

Requirements: Upon receipt of written request, it is unlawful to delay beyond five business days issuance of written payoff statement. State may seek fine; willful violation is felony. § 286.8-990.

Mortgage Servicing and Loan Modifications: MASSACHUSETTS

Mass. Gen. Laws ch. 183, § 54D

Requirements: Mortgagor, holder, or servicer shall provide within five business days of receipt of request a precise figure as of date certain and computation method for ascertaining figure after date certain. No fee for first request within each six-month period. Liability for noncompliance: the greater of $500 or actual damages; costs and attorney fees.

Mortgage Servicing and Loan Modifications: NEBRASKA

Neb. Rev. Stat. § 45-737(6)

Requirements: Licensee must answer within seven days of receipt of written request without charge; fee up to $10 allowed where request is within sixty days of prior fulfilled request. Violation may lead to injunction or fines. § 45-743.

Mortgage Servicing and Loan Modifications: 12 U.S.C. § 2605. Servicing of mortgage loans and administration of escrow accounts

(a) Disclosure to applicant relating to assignment, sale, or transfer of loan servicing. Each person who makes a federally related mortgage loan shall disclose to each person who applies for the loan, at the time of application for the loan, whether the servicing of the loan may be assigned, sold, or transferred to any other person at any time while the loan is outstanding.

(b) Notice by transferor of loan servicing at time of transfer.