Mortgage Statement & Escrow Guide glossary
Key terms
Statement answer
These terms appear on mortgage statements and servicer letters, each with a primary source.
Last reviewed against the primary sources listed below.
- Periodic statement
- The billing statement a servicer sends each cycle showing what is due and how past payments were applied. Source: CFPB Regulation Z 1026.41: Periodic statements for residential mortgage loans
- Notice of error
- A written letter telling the servicer you believe it made a specific mistake on your account. Source: CFPB Regulation X 1024.35: Error resolution procedures
- Request for information
- A written letter asking the servicer for records about your loan. Source: CFPB Regulation X 1024.36: Requests for information
- Form 1098
- The year-end form showing mortgage interest you paid to a servicer. Source: IRS: About Form 1098, Mortgage Interest Statement