Want to be notified by email when your next year-end statement is ready? Go paperless in a few quick clicks! Click Receiving My Statement to learn how.
Depending on your account activity last year, you may receive the following IRS Form from us:
IRS Form 1098 details interest paid on a loan in the past calendar year. The form includes:
If we serviced your mortgage in 2024 and you are the primary mortgagor, meaning the name of the first Note signer, you will receive a Form 1098 reporting interest paid during that time in accordance with IRS guidance. This includes all mortgages with at least $600 in interest and points combined paid to us during the 2024 calendar year.
Typically, you should receive a statement from each servicer for the time they serviced your account. Mortgages with at least $600 in interest and points combined paid to a servicer during the calendar year should receive a year-end statement from that servicer, in accordance with IRS guidance.
In general, unless you have an adjustable-rate mortgage (ARM), the percentage of your monthly mortgage payment applied as interest decreases as you repay your principal, or the amount initially borrowed to purchase your property. As the amount due in interest decreases, the amount applied to your principal increases. To see how the ratio of principal to interest changes in your monthly payment throughout the life of your loan, check your Amortization Schedule—log into your account via our website or mobile app and go to My Loan.
There are many other reasons the amount you pay in interest may change year-to-year. E.g., if you have an adjustable-rate mortgage (ARM), your interest rate may have increased.
It depends on the reason you received more than one for the same calendar year. A few potential scenarios:
Inaccurate or outdated information was identified in your original 1098, so a corrected statement was provided. This could be a result of an error or the IRS issuing updated guidance that affected your statement.
Year-end statements are sent by January 31 each year. If you enroll for electronic year-end statements by December 27, 2024, we will notify you by email when your statement is available online to view, download, and print. Otherwise, you'll receive a paper copy of your 2024 year-end documents(s) by mail.
Yes! You can enroll for electronic year-end statements to receive an email when your statement is available on our website and app to view, download, and print.
Here’s how:
To ensure you receive your 2024 tax statements timely, be sure to update your communication preferences by January 9, 2025, if your email and/or mailing address has changed.
You can view your contact information online anytime on our website or mobile app. Once logged in, go to the My Loan tab. The section titled Loan information will display your mailing address, email address, and phone number. To change your preferences, click Edit.
You can download and print your statement in a few quick clicks on our secure website or mobile app. Once logged in, go to Documents, and then click Taxes. If you need further assistance, please contact us.
2024 year-end statements will be provided by January 31, 2025. When your statement is available, log into our website or app, go to Documents, and expand the Taxes section. Click the link to your statement to view, download and/or print the statement.
Enroll today! Here's how:
Once you enroll, you will no longer receive paper tax statements from us by mail.
This statement reports the total mortgage interest paid on your loan during the year. Generally, homeowners may be able to deduct mortgage interest from their taxes owed to the IRS. For information and guidance, you can consult a qualified tax advisor, contact the IRS at 1.800.829.1040, or visit IRS.gov.
You can check the "Instructions for Payer/Borrower" section of your IRS Form 1098 for this information, consult a qualified tax advisor, contact the IRS at 1-800-829-1040, or visit IRS.gov.
Typically, even if your mortgage is exempt from the Form 1098 requirement, interest paid on your loan may still qualify for tax deductions. For guidance, you can consult a qualified tax advisor, contact the IRS at 1-800-829-1040, or visit IRS.gov.
If you have questions specific to taxes and deductions, reach out to the experts. Consult a qualified tax advisor, contact the IRS at 1-800-829-1040, or visit IRS.gov.
If you have questions about a tax statement we sent to you, please contact us. We'll be happy to help.