To go back to Joy's comment on how accountants deal with the money, They put it all in a very large "suspense account". This is also where they put payments that they cannot "trace" and any other payments they want to lose. This is called creative accounting and insurance companies, banks and building societies have been doing it for years. After a time when they cannot trace it, (quite obviously they don't try very hard) it is transferred to "other income" which makes the shareholders very, very happy!(posted 8118 days ago)To go back to Melody's original question, the company's auditors should be able to get at the information about the amound paid under MIGs and this will be declared in their annual accounts. This information should then be transparent to any shareholder or to anyone who asks questions about the accounts. I should tell the IC that if this information is available to shareholders (It may be only figures but this should be available for cross checking if you know the figures applicable in your own case!) then the information should be available to you! In the case of a mutual all mortgagors are classed as members of the society and the information should still be available to you!
Best of luck - Anne