Annual Mortgage Statement

(redirected from 1098 Form)

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 ?
The Interim Servicing feature also accounts for interest payments received by the mortgage banker, tracking them in a 1098 form and printing the form for tax purposes.
Through Radstar, in tandem with e-Status, TBW was able to post more than 100,000 IRS 1098 forms on its secure Web site, available for download by borrowers well before the hard copies had even been printed for mail out.