View the PL05 screen in MSP to confirm the 1098 Year End Statement has been generated and mailed to retained servicing customers.
- Identify the following:
- LETTER ID = YE098
- REQ = VEN
- DESCRIPTION = IRS 1098 Form
- The date to the right of the Description field – 01/07/21 – indicates the date the statement file was generated and sent to the print vendor
- Statements are printed, quality checked and mailed within 3 business days of the date the statement file was generated and sent to the print vendor
As a reminder, 1098 statements are nested with billing statements generated for the February payment due date, in most cases.
- In this example the BP001 Billing Statement, the YE002 PMI Notice and YE098 IRS 1098 Form generated the same date - 01/07/21
- This indicates these 3 items were nested and mailed together
The date of 1/12/21 – under the DATE header – indicates the date the entry was logged on the PL05 screen. At this time, the process of entering this data on PL05 is manual and completed weekly on Tuesdays after the statements generate.
The YE020 Letter ID listed on PL05 with a date of 12/31/20 represents a system transaction and is not the indicator that a 1098 statement generated, printed and mailed.