Annual Mortgage Statement
Definition - What does Annual Mortgage Statement mean?
An annual mortgage statement can be defined as a statement sent by the mortgagee’s servicer to a mortgager. This statement usually includes details like the total amount of interest and paid points throughout the preceding year. It also includes the balance remaining on the principal mortgage.
In the USA, this statement is also called Form 1098 or year-end statement.
Justipedia explains Annual Mortgage Statement
The ending escrow balance, along with the amount of taxes paid by the servicer on behalf of mortgagor during the entire preceding year, will also be included in the annual mortgage statement.
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