1. Why is the recipient / lender TIN # different from 2021?
This is as we upgraded our loan systems this year which included using the TIN of 23-1928421 – Fulton Bank. Under our previous system the TIN number was reported as 23-2195389 – Fulton Financial Corporation. This is purely for reporting purposes.
2. Why does the 2022 1098 not show an escrow statement or loan history?
We have simplified the form this year to make it easier to use. The full loan history or an escrow account statement are not a requirement of the 1098, and we have streamlined the document this year. We will be happy to provide a copy of the loan history or an escrow account statement if you would like. To request these please either send us a secure message or contact our Direct Banking Center at 1.800.385.8664. Our Direct Banking Center representatives are available Monday through Friday from 7:00 a.m. until 8:00 p.m. and on Saturday from 8:00 a.m. until 3:00 p.m.
3. Why does my Outstanding Mortgage Principal (Box 2) show the same amount as 2021?
The Outstanding Mortgage Principal for 2022 reflects the principal balance as of 01/01/2022, while the 2021 Outstanding Mortgage Principal reflected the balance as of 12/31/2021. This should be the only field on the form reflecting the same balance as 2021.
4. Why does the 2022 1098 not list all borrowers?
We are not required to list all borrowers on the form, and for 2022 only the primary account holder was listed. The primary account holder may distribute copies of the form to all borrowers for accurate records, however we cannot re-print the form with all borrowers listed. If you have any questions concerning how to file your taxes please speak with a tax preparer or accountant.