> ## Documentation Index
> Fetch the complete documentation index at: https://docs.pylon.mortgage/llms.txt
> Use this file to discover all available pages before exploring further.

# Current Mortgage Statement for Owned Property

> Provide a complete, unredacted mortgage statement for an owned property so the lender can verify the outstanding balance, payment amount, and escrow details.

## What this task is

This task collects the **most recent mortgage statement** for an owned property where the borrower has an outstanding mortgage.
The statement should show key information such as **loan number, current unpaid principal balance, interest rate, monthly payment amount, escrow components, and payment history**.

For underwriting, the mortgage statement is the **primary source of truth** about the status and terms of an existing real-estate secured liability tied to an owned property.

## When this task is required

This task is required whenever:

* An **owned property has a mortgage** that is **still active**, and
* The liability is **being treated as a qualifying obligation** for the new loan (i.e., it is not fully excluded from ratios, forgiven, or otherwise removed).

Typical scenarios include:

* The borrower owns **additional real estate** beyond the subject property (primary, second home, or investment) and the associated mortgage **must be considered in [DTI](/entity-models/key-concepts/dti)**.
* The borrower has **recently refinanced, modified, or transferred** the loan, and the underwriter needs to confirm current payment and balance details.
* The credit report or application shows **incomplete or inconsistent information** about the mortgage, such as missing balances or payments.

## Why this task is required

Lenders rely on the mortgage statement to:

* Confirm the **current unpaid principal balance** for liability and risk calculations.
* Validate the **monthly payment amount**, including **principal, interest, taxes, insurance, and HOA if escrowed**, for accurate debt-to-income analysis.
* Identify **escrow status and shortages or delinquencies** that may signal additional risk.
* Ensure that the liability is correctly **tied to the specific owned property** reflected in the real estate schedule.

Without a clear and recent mortgage statement, the lender would be relying on **estimated or potentially outdated data**, which can lead to:

* Understating or overstating the borrower’s **true housing expenses**.
* Incorrectly calculating **[DTI](/entity-models/key-concepts/dti)** and **residual income**.
* Missing evidence of **late payments, delinquency, or escrow issues** that could affect eligibility.

## Documents needed to resolve this task

To satisfy this task, provide:

* The **most recent mortgage statement** for the owned property:
  * All pages, **unredacted**, including any payment coupons or additional disclosures that show balances or fees.
  * The statement should clearly show the **property address** or sufficient information to match it to the subject REO.
* If the property has **multiple liens**, provide a statement for **each mortgage or deed of trust** tied to that property.

These documents allow the underwriter to precisely tie mortgage obligations to the owned property and ensure they are treated correctly in the loan decision.