Annual Mortgage Statement


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.

  1. Mortgage

    A debt instrument, secured by the collateral of specified real ...
  2. Principal

    1. The amount borrowed or the amount still owed on a loan, separate ...
  3. Escrow

    A financial instrument held by a third party on behalf of the ...
  4. Mortgage-Backed Security (MBS)

    A type of asset-backed security that is secured by a mortgage ...
  5. Escrow Agreement

    A legal documents that outlines the terms and conditions between ...
  6. Mortgage Broker

    An intermediary who brings mortgage borrowers and mortgage lenders ...
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    Unlike subprime mortgages issued by some conventional commercial lenders, Federal Housing Administration (FHA) loans do not ... Read Full Answer >>
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    Federal Housing Administration (FHA) loans were created to promote homeownership. These loans have lower down payment requirements ... Read Full Answer >>
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