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Year-End Statement

Why is there only one social security number on my annual loan statement?
It is SunTrust Mortgage's responsibility to report the total amount of interest paid during the calendar year. Since SunTrust Mortgage does not take a position with respect to the financial interest of each party on a loan, SunTrust Mortgage only reports under the primary social security number. The IRS does not require reporting for additional social security numbers. Provided that the combined interest reported for each mortgagor does not exceed the total amount listed on your 1098, you will be in compliance with IRS regulations.

I am a co-mortgagor. Will I receive my annual loan statement?
SunTrust Mortgage sends one statement to the primary mortgagor at the current mailing address. A copy of the statement will be provided upon request for a fee.

When was my annual statement mailed?
SunTrust Mortgage is required to mail annual loan statements by January 31. Statements are generally mailed during the second and third week of January and are included with your regular monthly statement.

Why did I pay more interest this year than last?
You may have paid additional payments this year before year end. For example, if you mailed your January 1997 payment prior to January 1, it may have been posted to your account before December 31, 1996, which would result in 13 payments applied in 1996.
Homeowners with a Graduated Payment Mortgage (GPM) loan will have increasing interest in the first few years in accordance with the GPM program.

Why were my taxes not paid prior to year end?
Some states have tax due dates prior to December 31, but taxes do not become delinquent until later. SunTrust Mortgage is responsible to pay your tax bill before the delinquent date.

Why does my total tax figure not equal the total amount paid?
You may have received a refund during the year. You may also have paid taxes at closing through your closing agent. This item will appear on your HUD-1 form, included with your closing documents, and will not appear on your annual loan statement.

I assumed my loan during the year. What portion can I claim?
SunTrust Mortgage will report only the interest based on the date of the assumption to the new borrower.

Why are all the points I paid at closing not included on my annual statement?
SunTrust Mortgage is required to report points paid on new purchase (not refinanced) owner-occupied loans which were originated through SunTrust Mortgage between January 1 and December 31. If you originated your loan through another lender, you will need to use your HUD-1 statement to claim the proper amount.

Why is my principal balance higher this year than last year?
If you have a GPM or an ARM loan with a limited payment option, then you may have had negative amortization during the year. SunTrust Mortgage can provide you with a copy of your transaction history that can confirm whether this occurred.

Why did I not earn interest on my escrow account, and can my escrow balance be refunded?
SunTrust Mortgage is required to pay interest on escrow accounts only for specified states. If your statement does not reflect interest earned on your account, then your state does not require interest to be paid on your escrow account. SunTrust Mortgage performs an escrow analysis annually. You will be notified of any overage at that time. If your loan is current, overages in excess of $50.00 will be refunded.

For further information, please contact our Customer Service
Department at 1-800-634-7928 or send us an e-mail.

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