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Banks and End of Year Mortgage Statements in BK

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    Banks and End of Year Mortgage Statements in BK

    I didn't receive my end of year statement or escrow analysis from PNC so I asked the FDIC the following question about it at [email protected]:

    I am in a Chapter 7 and did not receive my annual end of year statement or escrow analysis. I was also in arrears, but caught those up at the end of December 2010. I understand that my lender is exempt while I'm in bankruptcy. When are they to provide me my escrow analysis? Is that 90 days from my discharge date, or will they be exempted from 2010 and have to provide it to me at the end of 2011?and their answer:

    Section 3500.17(i)(2) of the Real Estate Settlement Procedures Act contains an exemption from the provisions of Section 3500.17(i)(1). This paragraph (i)(2) contains an exemption from the provisions of § 3500.17(i)(1). If at the time the servicer conducts the escrow account analysis the borrower is more than 30 days overdue, then the servicer is exempt from the requirements of submitting an annual escrow account statement to the borrower under § 3500.17(i). This exemption also applies in situations where the servicer has brought an action for foreclosure under the underlying mortgage loan, or where the borrower is in bankruptcy proceedings. If the servicer does not issue an annual statement pursuant to this exemption and the loan subsequently is reinstated or otherwise becomes current, the servicer shall provide a history of the account since the last annual statement (which may be longer than 1 year) within 90 days of the date the account became current. If you would like to file a complaint against a financial institution, please contact the FDIC at 1-877-275-3342 for assistance.

    I received the end of year statement just about 30 days from when I made the account current, but I'm still waiting on the escrow analysis, and they showed my payments, but also show them as impounded. I'm going to dig a little further and see what's up with that. Just wanted to send this info along in case anyone else out there is in the same jam, or if any of you vets have any input.
    Chapter 7 filed 10/8/10...341 Meeting 12/6/10....Discharged 2/16/2011....Case Closed! 3/1/2011

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