DEFINITION of 'Annual Mortgage Statement'

An annual report sent to a mortgagor by the mortgagee's servicer detailing the amount of interest and points paid during the preceding year and the remaining principal balance of the mortgage. If taxes and/or insurance are escrowed, the amount of taxes paid during the preceding year on behalf of the mortgagor by the servicer will also be shown, as will an ending escrow balance.

BREAKING DOWN 'Annual Mortgage Statement'

In the United States, the annual mortgage statement is also known as the year end statement or Form 1098, which is used when filing taxes.

RELATED TERMS
  1. Option Adjustable-Rate Mortgage ...

    A type of mortgage where the mortgagor (borrower) has several ...
  2. Mutual Mortgage Insurance Fund

    A fund that insures mortgages made by the Federal Housing Administration ...
  3. Mortgagor

    An individual or company who borrows money to purchase a piece ...
  4. Escrow Agreement

    A legal documents that outlines the terms and conditions between ...
  5. Escrow

    A financial instrument held by a third party on behalf of the ...
  6. No-Fee Mortgage

    A mortgage in which a mortgagee does not charge the mortgagor ...
Related Articles
  1. Investing

    What does "In Escrow" Mean?

    Escrow is a financial agreement involving two parties, usually a buyer and a seller. The buyer deposits money, securities or other funds into the escrow account, where they are held until both ...
  2. Personal Finance

    Understanding the Mortgage Payment Structure

    We explain the calculation and payment process as well as the amortization schedule of home loans.
  3. Personal Finance

    Score a Cheap Mortgage, Here’s How

    Hidden costs can create what looks like a good deal. Find out how to find the best mortgage possible.
  4. Taxes

    Creating a Tax-Deductible Canadian Mortgage

    Find out how to get a tax benefit from your mortgage like your neighbours to the south.
  5. Personal Finance

    Shopping for a Mortgage in 2017? Use This Tool First

    As home-buying technology has progressed, the process of finding the best mortgages rates for 2017 can all be done online.
  6. Personal Finance

    How to Use a Mortgage Calculator to Save Time and Money

    Calculate your monthly mortgage payment using the Investopedia's free calculator.
  7. Personal Finance

    Make A Risk-Based Mortgage Decision

    Find out how to choose which mortgage style is right for you.
  8. Personal Finance

    Are mortgage-backed securities backed by any guarantees?

    Actually, any mortgage-backed security (MBS) guarantee depends on who issued it.To review, an MBS is a security, created through the process of securitization, in which the underlying assets ...
  9. Insurance

    Why You Don’t Need Mortgage Protection Life Insurance

    Mortgage protection life insurance sounds great – a guarantee that your mortgage will be paid if you die. But first take a hard look at what you get.
  10. Personal Finance

    Finding the Best Mortgage Rates in 2017

    As home-buying technology has progressed, the process of finding the best mortgages rates can all be done online. Here's how:
RELATED FAQS
  1. Do mortgage escrow accounts earn interest?

    Paying down monthly mortgage escrow accounts? Will you receive any interest on this payment? If you are, should you put more ... Read Answer >>
  2. Do FHA loans require escrow accounts?

    Here's why FHA mortgages require escrow accounts for property taxes, homeowners insurance and mortgage insurance premiums ... Read Answer >>
  3. Do landlords set up escrow accounts for their tenants' security deposits?

    Learn when and why landlords place rental property security deposits in separate escrow accounts to make sure the money is ... Read Answer >>
  4. Why Do Most of My Mortgage Payments Start Out as Interest?

    When you make a mortgage payment, the amount paid is a combination of an interest charge and principal repayment. Over the ... Read Answer >>
Trading Center