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Servicing 1098 Exception Report Reporting Year 2013 Filer Name: Name Extension: Mailing Address: City: 2650 Washington Blvd Ogden Account Number Name Reason for Exception 11234 Brad Norton Negative

How to fill out servicing 1098 exception report

How to fill out servicing 1098 exception report

1. Begin by gathering all the necessary information related to the servicing 1098 exception report. This includes the borrower's name, the lender's name, and the details of the mortgage loan.
2. Fill in the appropriate sections of the report, ensuring accuracy and completeness. Provide the correct loan identification number, as well as the address of the property. Include any additional identification numbers that may be required.
3. Indicate the reason for the exception and provide a detailed explanation. This could include circumstances such as bankruptcy, foreclosure, or a modification to the loan terms.
4. If applicable, provide supporting documentation or reference any relevant records that support the exception being reported. This could include legal documents, court orders, or correspondence with the borrower or other parties involved in the loan.
5. Review the completed report for any errors or omissions. Ensure that all information provided is clear and concise.
6. Sign and date the report, indicating your responsibility for the accuracy of the information provided.
7. Submit the completed servicing 1098 exception report to the appropriate party or entity as instructed.

Who needs servicing 1098 exception report?

1. Mortgage lenders and servicers often require the completion of a servicing 1098 exception report. This report provides important information about any exceptions or discrepancies in the reporting of mortgage interest received by the lender.
2. Financial institutions and government agencies may also request a servicing 1098 exception report to ensure compliance with tax regulations and to verify the accuracy of reported mortgage interest.
3. Borrowers and homeowners may also benefit from completing a servicing 1098 exception report, as it allows them to address any discrepancies or issues that may have arisen in the reporting of their mortgage interest. By filling out this report, borrowers can ensure that their tax obligations are properly recorded and accounted for.

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