What does "minus escrow disbursed" mean on my 1098 statement?
"Minus escrow disbursed" could refer to one of the following: monthly private mortgage insurance (PMI) payments, escrow overage disbursements, or other miscellaneous disbursements such as a fax fee or an inspection fee.
Why does my 1098 show that no taxes were disbursed?
Your 1098 may show that no taxes were disbursed for one of the following reasons: the taxes were paid at closing, the taxes were not paid from the escrow account in the year the 1098 is reporting on, or the loan was paid off before the taxes were due.
I made 14 payments. Why are only 13 payments listed on my 1098 statement?
Only 13 months of interest can be claimed in any given year - January through January. Sometimes a borrower will have made his or her January payment in December of the previous year. The January interest is claimable, because interest is in arrears (the January payment includes December's interest).
Why isn't the co-borrower's social security number on the 1098 statement?
The IRS only requires the social security number of the primary borrower on the 1098. Please note that we are unable to change the social security number on 1098 statements.
When are year-end 1098 interest statements mailed out?
Each year, Flagstar will mail mortgage interest statement, form 1098 on active or inactive accounts by January 31.
What is a 1098 interest statement?
The 1098 statement details all interest, taxes, and insurance paid on a mortgage for a given year. The lender is required to send the customer this statement by January 31 of each year.
I paid points at closing. Why aren't they indicated on my 1098 statement?
The points paid at closing may not appear on your 1098 statement if Flagstar Bank was not the originating lender or if the loan was a refinance. If you have further questions about how to claim points, please speak with your tax adviser or attorney.