A further review of the 62 loans involved in this scenario identified 14 of these loans received an incorrect 1098 statement for 2020 that was generated and mailed prior to January 31, 2021.
- These 14 loans will receive a corrected 1098 statement for 2020 following the schedule described below – to be mailed no later than Friday 3/12/21
- The “Corrected” box on the 1098 form will be checked to help customers identify this is a corrected year end statement
A revised spreadsheet is attached which lists the loans that will receive a corrected 1098 statement.
Scroll down to read the original newsflash on this topic. All other information previously communicated on this topic is accurate. Please contact your supervisor or manager if you have any questions.
Interim Loans: 1098 Statements not Generated or Mailed Prior to January 31, 2021
A small population of interim serviced loans did not have a 1098 Year End Statement for 2020 generated and mailed from Fairway corporate prior to January 31, 2021.
These 1098 statements are in the process of being generated and will be mailed to customers no later than Friday March 12, 2021. Customers will have access to view these statements on www.FairwayNEXT.com one business day after they are viewable internally in Radstar.
The 62 impacted loans will have the following comment documented on the Memo screen in FICS:
“3/4/2021 loan identified to not have received a 1098. A new 1098 will be generated and sent to the borrower”
A spreadsheet listing the impacted loans is attached to this newsflash.
Advise impacted customers of the following:
- Your loan has been identified as not having the 1098 Mortgage Interest Statement for 2020 generated and mailed to you
- Fairway is producing this statement to be mailed to you no later than Friday March 12, 2021
- The statement will be viewable by Friday March 12, 2021 on www.FairwayNEXT.com
Apologize for any inconvenience and frustration this caused