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. Investopedia Says:
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:
Escrow
Escrow Agreement
Mortgage
Mortgage Broker
Mortgage-Backed Securities - MBS
Mortgagor
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