Annual Mortgage Statement

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Annual Mortgage Statement

A statement that a mortgage lender sends to a borrower indicating the interest and points paid on a mortgage, the principal remaining, and the escrowed taxes and/or insurance that the lender paid on the borrower's behalf. This helps the borrower in taking the correct deductions on his/her tax return. It is also called Form 1098.
References in periodicals archive ?
Global Banking News-January 16, 2014--Danske Bank to only provide annual mortgage statements
Annual mortgage statements will be made clearer so that homeowners can work out how much they are paying and whether it's cheaper elsewhere.

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