(a) In basic —
1. Recipient of regular declaration. Whenever two individuals are joint obligors with main obligation for a consumer that is closed-end transaction guaranteed by a dwelling susceptible to § 1026.41, the regular declaration might be provided for each one of these. The servicer need not send statements to both spouses; a single statement may be sent for example, if spouses jointly own a home.
2. Payment cycles reduced than the usual 31-day duration. If that loan features a billing cycle smaller than a time period of 31 days (as an example, a bi-weekly payment cycle), a regular declaration addressing a complete thirty days can be used. Such statement would individually record the payment that is upcoming times and amounts due, as required by § 1026.20(d)(1), and list all deal task that took place throughout the relevant time frame, as required by paragraph (d)(4).