As I indicated earlier, our home mortgage (recently refinanced) has been sold to CitiMortgage. I just spent 20 minutes setting up an online profile with CitiMortgage. And while I have reviewed each and every FAQ, each section regarding payments and payoff, there is nothing on the CitiMortgage web page about how to prepay principal except for their own "Biweekly Advantage Plan" which of course has a charge associated with it.
While I am disappointed, I'm not surprised because Citi makes more money off of us if we don't prepay our mortgage. So my plan is to make our first regular payment and then I will call about how to set up principal prepayments. Its important that Citi know that I'm going to be making principal prepayments so that they properly apply them and so they don't assume I'm making some partial regular payment.