PHH Mortgage Mortgage Complaint

PHH Mortgage Mortgage department,

Conventional fixed mortgage Loan servicing, payments, escrow account Maryland

We are receiving - mortgage statements each month from PHH Mortgage ( Mortgage Service Center ) since the company assumed our home mortgage - -. I called the company - - and was told that they send a monthly notification statement and also generate a statement when they receive a payment. This creates confusion and a potential duplicate payment to be made if - does not pay close attention to the Payment Due Date which are the same date. The statements are identical forms with - showing transaction activity of the last P & I/Escrow payment and the second statement showing no transaction activity. The only significance of the second notice is to identify next payment due date already identified on the previous statement. - statements have same Payment Due Date. I 've paid multiple mortgage companies over the past 30 years and this is the first company that has issued - statements per monthly cycle. Upon speaking to the PHH Mortgage customer service representative they stated that federal law requires them to send a statement when a payment is made. Unless I 'm missing something, the ''Dodd-Frank Wall Street Reform and Consumer Protection Act '' - - - only


SEC. -. DISCLOSURES REQUIRED IN MONTHLY STATEMENTS FOR RESIDENTIAL MORTGAGE LOANS. Section - of the Truth in Lending Act - - -. - ) is amended by adding at the end the following new subsection : '' ( f ) PERIODIC STATEMENTS FOR RESIDENTIAL MORTGAGE LOANS. - '' ( - ) IN GENERAL. - The creditor, assignee, or servicer with respect to any residential mortgage loan shall transmit to the obligor, for each billing cycle, a statement setting forth each of the following items, to the extent applicable, in a conspicuous and prominent manner : '' ( A ) The amount of the principal obligation under the mortgage. '' ( B ) The current interest rate in effect for the loan. '' ( C ) The date on which the interest rate may next reset or adjust. '' ( D ) The amount of any prepayment fee to be charged, if any. '' ( E ) A description of any late payment fees. '' ( F ) A telephone number and electronic mail address that may be used by the obligor to obtain information regarding the mortgage.