• Mortgage statements can be generated only for loans with Process Type M, excluding commercial loans (Master type MO).
• There is an activation flag in statement configuration that lets you choose whether to generate mortgage statements for ALL Process Type M mortgages, or only for certain loan categories.  If the latter option is selected, there will be a flag in Tool #458 "Loan Category Configuration" that designates which products will receive the new statements. (NOTE: This field will be visible starting with a future CU*BASE release.  For now the "Report to credit bureau/IRS" setting must be set to NMS in order to flag the category to receive mortgage statements.)
• Mortgage statements will be a separate run at month-end and will not be included with the regular member statements.
• Mortgage statements are generated only in a "flat file" statement output, not the older-style “print vendor” format.
• The top section of the statement will be perforated to be used as a coupon, similar to our credit card statement.
• eStatements will also be generated separately, similar to how credit card statements work.

To display appropriately on the statement, the mortgage loan should meet the following criteria:

• Loan payment due date between the 1st and 7th of the month
• Grace period end date within the same month as the loan due date
• Payment frequency for the loan is monthly

Results will vary for mortgage loans that use settings other than these, due to layout and data elements on mortgage statements.