01/27/2021: Retained Loans - Year End Statements

Stand-alone 1098 year end statements have been mailed

Year-end statements for the following scenarios were printed and mailed yesterday (01/26/2021):

  • Loans paid in full during 2020
  • Loans with no monthly payment posted during January 2021
  • Customers who pre-paid their January 2021 payment in December 2020
  • Other scenarios where a monthly billing statement was not generated during January

Monthly billing statements were not generated to nest the 1098 and/or 1099 in these scenarios, so these customers will receive the year-end document(s) in a separate and stand-alone mailing.

Images of these stand-alone mailings are scheduled to be viewable in DMS and MyFairwayServicing.com on Friday 01/29/2021.

Note:  PL05 will not reference the generation of these year-end statements until Tuesday 02/02/21.  Please do not let this be a point of confusion in this scenario.

Year end statement images are not viewable to customers on MyFairwayServicing.com until the image is viewable in DMS

  • Until the image of the statement is uploaded to DMS, customers cannot view them online
  • Once it appears in DMS, customers have access to view the image online

Year end statement on loans where the January 2021 payment posted on 01/04/21 do not reflect as generated on PL05 or viewable in DMS

  • Please note this is a known scenario ServiceMac is researching
  • Updates and more information will be provided as it becomes available