Michigan § 445.1674 - Annual statement and ledger history of borrower's account; fee prohibited.
Full text of Michigan Michigan Compiled Laws § 445.1674 — Annual statement and ledger history of borrower's account; fee prohibited., with citation guidance and answers to common questions.
§ 445.1674. Annual statement and ledger history of borrower's account; fee prohibited.
A mortgage servicer shall deliver to the borrower annually a statement of the borrower's account showing the unpaid principal balance of the mortgage loan at the end of the immediately preceding 12-month period, the interest paid during such period, and the amounts deposited into escrow and disbursed from escrow during the period. In addition, within 25 days after receipt of a written request from the borrower, a mortgage servicer shall deliver to the borrower a ledger history of the borrower's account showing the date and amount of all payments made or credited to the account, but in no event for a period in excess of the immediately preceding 12-month period, and the total unpaid balance. In no event shall a mortgage servicer be obligated to furnish to the borrower more than 1 annual statement and 1 ledger history upon written request of the borrower in any 12-month period.
A fee shall not be charged the borrower for the annual statement or for 1 ledger history furnished to a borrower in a 12-month period.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 445.1674
What does Michigan Compiled Laws § 445.1674 cover?
Section 445.1674 ("Annual statement and ledger history of borrower's account; fee prohibited.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 445.1674?
A common citation format is "Michigan Compiled Laws § 445.1674" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 445.1674 apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.