Your mortgage statement and what it means

Your mortgage statement shares important information about your loan. You can learn how your payment is applied, the amount and due date of your next payment, your balance, and more. Reviewing your mortgage statement helps you understand and manage your account. On this page, you can find out how to read your statement section-by-section.

Click on the sample statement at the right to enlarge the image.


Page 1

Account Information Section

Ditech Mortgage Statement, page 1

Click to enlarge: Ditech Mortgage Statement example, page 1

This section provides details on the loan referenced in this statement.

  • Principal Balance. The amount of money still owed on the loan. It does not include advances, interest or other fees and charges. This is not the amount required to pay your account in full.
  • Escrow Balance. The amount currently in your escrow account. An escrow account is set up to collect funds to pay certain bills associated with your property, such as property taxes and premiums for homeowners insurance, flood insurance or private mortgage insurance.
  • Deferred Balance. This may appear if the original terms of your mortgage were modified. (See your separate Loan Modification Agreement for details).
  • Advance Balance. Any servicing-related expenses Ditech or a prior loan servicer incurred and paid on your behalf. These amounts must be repaid no later than when the loan matures.
  • Incentive Accrual Balance. If your mortgage includes a special incentive being paid for timely payments, this area shows how much incentive money is being accrued toward your principal.
  • Interest Rate. The current percentage rate you’re being charged for the money that you borrowed.
  • Interest Type. This refers to how interest is calculated on your loan. It will either be Simple (interest is calculated on a daily basis) or Actuarial (interest is calculated on a monthly basis).
  • Prepayment Penalty. This indicates whether there is a charge for paying all or part of the loan’s principal before the date on which it is due.
  • Next Rate Reset. This indicates whether your loan rate is subject to an interest rate reset, and if so when the rate will reset.
  • Property Address. The address for the property that is securing your mortgage.

Past Payment Breakdown Section: Since Last Statement/Month

This section shows a breakdown of payments made since last month’s statement.

  • Principal. The amount applied to principal
  • Interest. The amount applied to interest
  • Escrow (Tax & Insurance). The amount applied to the escrow account (if applicable)
  • Total Fees and Charges. The amount applied to fees and charges
  • Funds in Suspense. The amount, if any, sent to any suspense or unapplied funds account Total Paid; total amount paid on this loan since last month’s statement

Past Payment Breakdown Section: Year to Date

This section shows a breakdown of payments made so far this year.

  • Principal. The amount applied to principal
  • Interest. The amount applied to interest
  • Escrow (Tax & Insurance). The amount applied to the escrow account (if applicable)
  • Total Fees and Charges. The amount applied to fees and charges
  • Funds in Suspense. The amount, if any, currently held in any suspense or unapplied funds account
  • Total Paid Year to Date. Total amount paid on this loan this year

Explanation of Amount Due Section

Ditech Mortgage Statement example, page 2

Click to enlarge: Ditech Mortgage Statement example, page 2

This section shows the details for this month’s loan payment.

  • Principal. The portion of your regular monthly payment due this month to pay principal
  • Interest. The portion of your regular monthly payment due this month to pay interest
  • Escrow. The portion of your regular monthly payment due this month to fund your escrow account
  • Regular Monthly Payment. The sum of the previous three line items (Principal, Interest and Escrow)
  • Total New Fees and Charges. The total sum of any fees or charges imposed since the last statement
  • Past Due Amount. This will appear if you have any payment amount that is past due. Remember that any payments you made after the statement date will not be reflected in this monthly billing statement.

Transaction Activity Since Last Statement Section

This is a list of all the transaction activity on your loan that occurred since the last statement. It will include payments made, credits applied, fees or charges assessed, etc.

Important Messages Section

  • Information regarding your account or other useful or relevant messages from Ditech.

Delinquency Notice Section

If you are more than 45 days delinquent, this section will appear on your statement and will include the following information.

  • The length of your delinquency
  • A statement regarding possible risks, such as foreclosure, and expenses that may be incurred if the delinquency is not cured
  • A brief account history showing the amount remaining past due or, if any such payment was fully paid, the date on which it was credited as fully paid
  • A notice regarding any loss mitigation program that you have agreed to, if applicable
  • A notice of whether we have made certain notices or filings relating to foreclosure, if applicable
  • The total payment amount needed to bring the account current
  • A statement regarding homeownership counselor information

Payment coupon

Detachable coupon for you to complete and send to Ditech with payment.

  • Amount Due. Write in the amount due this month.
  • Additional Escrow. Write in any additional money that you are including, if applicable, that you want applied to your escrow account.
  • Additional Late. Write in any additional money that you are including, if applicable, to pay late fees.
  • Additional Principal. Write in any additional money that you are including, if applicable, that you want applied to reduce your principal.
  • Total Amount Enclosed. Write in the sum of the previous four line items (amount due, additional escrow, additional late, additional principal).

Page 2

The back of your statement

The reverse side of your mortgage statement includes information about making payments, credit reporting, debt collection, housing counseling, Ditech contact information, specific address to send Qualified Written Requests/Notice of Error/Request for Information, and other useful content.

  • Address, Phone, and Name Changes Form. To notify Ditech of address, phone number, and/or name changes on your account, please complete the form at the bottom of this page (on the back of your payment coupon) and return to Ditech with your payment.