01/06/2021: 1098 Year End Statements - Key Dates

Comprehensive year end training is scheduled to occur between January 7 – 11.  Please watch your Outlook email for a calendar invite for your scheduled time.  These outlook appointments will be sent during the afternoon of 1/6/2021 – they have not yet been sent, so no worries – you have not missed out!  


Listed below are key dates regarding the mailing and online availability of 1098 Year End Statements: 


Interim Servicing and Transferred Servicing Loans:

  • A 1098 statement will be generated by Fairway for all customers who paid dollar amounts toward interest with a monthly mortgage payment, mortgage insurance, or preliminary interest and/or discount points at origination
  • Fairway Interim Servicing is scheduled to print and mail these 1098 statements on Tuesday January 19, 2021
  • 1098 statements for these customers will be viewable in FICS/Radstar and on www.FairwayNEXT.com for registered customers on Thursday January 21, 2021



Retained Servicing Customers whose loans are serviced by ServiceMac, branded as Fairway:

  • A 1098 statement will be generated by ServiceMac, branded as Fairway for all customers who paid dollar amounts toward interest with a monthly mortgage payment, mortgage insurance, or preliminary interest and/or discount points at origination
  • Loans that originated and closed as retained servicing, and loans that originated and closed as transferred servicing and then transferred to ServiceMac retained during 2020 will receive a statement from ServiceMac, branded as Fairway
  • 1098 statements for retained servicing loans are being included in the envelope containing the monthly billing statement mailed to customers during January 2021 – to be mailed no later than January 31, 2021
    • In the event a billing statement is not mailed to customers during January 2021, a stand-alone 1098 statement mailing will be generated and sent no later than January 31, 2021
  • Retained servicing customers may obtain access to view their 1098 statement on the MyFairwayServicing web portal (www.MyFairwayServicing.com)
    • These customers must elect the Go Paperless delivery preference to view their 1098 statement online
      • After successfully logging in to MyFairwayServicing
        • Select Account Management
        • Document Center
        • Modify Delivery Preferences 
        • Select Paperless

Retained customers who provided consent to receive email communication were sent an email the week of January 4, 2021 containing the verbiage shown below:


2020 IRS Tax Forms and annual notices will be included with your Billing Statement mailed in January which will be provided no later than January 31, 2021. The documents will also be available in MyFairwayServicing by signing in and selecting Account Management, Document Center.
 
 Please be advised that if the servicing of your loan was transferred in 2020, you may receive multiple 1098 Tax Forms, one from each mortgage servicer.
 
 Want to get your Form 1098 as soon as it's available? Go Paperless today! 

  • Sign in to MyFairwayServicing
  • Select Account Management, Document Center
  • Modify Your Delivery Preference

Additional details, clarifications and information regarding the timing when online 1098 statements for retained customers will be provided as soon as it becomes available.  


These topics and processes will be thoroughly reviewed and discussed during the comprehensive year end training sessions that will be scheduled between January 7th – 11th.   Please watch your email for appointment invites for this training – these appointment emails have not yet been sent.


Should you have any specific question relating to year end or 1098 year end statements and need assistance prior to Year End Training, please contact your supervisor or manager for assistance.  If further assistance is needed prior to year-end training please send an email to servicingtraining@fairwaymc.com.  Emails received before 4:00 p.m. will be replied to during the same business day.