FAQs
When and how will I receive my Year-End Tax Statements (Form 1098)?
Every year, Pennymac issues a Year-End Statement (officially known as IRS Form 1098) for your income tax reporting.
This primary statement shows the total amount of mortgage interest you paid throughout the year, as well as the total property taxes paid from your escrow account (if you have one).
When and how will I receive my statement?
- Quick Online Totals (Jan 1st): You don’t have to wait for the official form to see your totals! After January 1st, simply log into your Pennymac account and visit the “Loan Information” page to view your interest and taxes paid for the previous year.
- Official Statements (By Jan 31st): Official statements are generated and made available by January 31st. If you are registered for online access, you can view, print, and download your statement directly from your account, and we will email you as soon as it is ready. Otherwise, a physical copy will be mailed to you by January 31st.
Other tax forms you might receive:
Depending on your specific account activity during the year, you may also receive one or more of the following forms:
- Form 1099-INT: Used to report earned interest (if you earned more than $10.00 on an escrow balance).
- Form 1099-A: Used to report a property loss, such as a completed foreclosure or a deed in lieu.
- Form 1099-C: Used for properties sold in a short sale, or for loans where any portion of the debt was forgiven (such as principal reduction modifications).
What if my loan was transferred this year?
If your loan was transferred to or from Pennymac during the calendar year, you will receive two separate Year-End Statements: one from Pennymac, and one from the other servicer. Each statement will only reflect the exact period of time that specific company serviced your loan.