1. Temporary Repayment Plans – short term repayment or trial
modification
a. A partial payment received under a temporary payment plan may be
held in suspense until the servicer receives a full contractual
payment, then it must be promptly credited to the account.
b. The amount due section of the periodic statement may show either
the temporary payment or the contractual payment.
c. If the amount due section of the periodic statement shows the
temporary payment, the contractual payment must also be included
in the explanation of amount due on the statement.
2. Permanent Modifications – If the loan contract has been
permanently modified, the periodic statement must show only the
modified payment.
10
Temporary Plans and Permanent Modifications
