Beneficiary Statement

Elsewhere in this glossary we defined the beneficiary as being the lender (within the context of a home foreclosure process).

By extension, the beneficiary statement is a document that the lender provides to the borrower on a trust deed type of loan. This statement lists claims that are not listed within the other loan documents.

Definitions from Around the Web

"A beneficiary statement is a disclosure from the lender of record. It notes the unpaid balance remaining on a mortgage loan as of a certain date, including the interest rate." -Source: http://homebuying.about.com
"Also known as a "benny statement", a written statement of conditions and remaining balance on loan secured by a deed of trust." -Source: www.foreclosures.com
"Statement by a beneficiary under a deed of trust as to the total balance due on a promissory note and other information concerning the loan." -Source: www.PreventMyForeclosure.com

Want to learn more of the lingo associated with the foreclosure process? Check out our glossary of terms.