Learn how to read mortgage statements to help clients track payments, avoid errors, and manage their mortgages efficiently. Below is a list of forms that you may download for free from our website.Balances Prior to Billing Transactions are Shown Below – Displays balances, as of the statement date, for the following accounts: • Principal. A mortgage statement is an accounting of all of the details about your mortgage, including the current balance owed, interest charges, interest rate changes. You can force the lender to provide this information under a federal law known as RESPA. This law allows you to submit a Qualified Written Request. A letter of explanation can clarify your financial situation and get you one step closer to qualifying for a mortgage. How do I fill this out? Submit updated statements for all debt obligations including your credit cards and student loans. They may only be able to get mortgage loans in the subprime market, which charges higher interest rates.