IRS Form 1098

As you may know, on February 9th, 2018, Congress reauthorized the ability of some borrowers to deduct Mortgage Insurance Premiums (MIP) after the original 1098 was issued by Cenlar.

Cenlar is following the IRS’ guidance on the deduction for MIP, which advises lenders who have already filed IRS Form 1098, and did not include reportable MIP, to now file a corrected IRS Form 1098 by March 15th, 2018.

Borrowers will be notified about the corrected IRS Form 1098 – by a statement insert, a message on the IVR, and a message on the CenNet website log on page.

Copies of this communication can be viewed here.