Loan Year-end Reports |
  
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Loan Year-end Reports |
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The following year-end reports are available that show which accounts are included in the transmittal to the IRS. If you want any of these reports by indicating on the Client Year-end Reporting Setup Form, your GOLDPoint Systems account manager will set them up, so you can view them in GOLDView Plus (in CIM GOLD) after year-end has run.
Report |
Description |
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1098 Mortgage Interest Statement Report (Report 1)
FPSRP382 is really three reports in one. The first report (Year-end Loan Mortgage Interest) shows all accounts that have 1098 mortgage interest reported to the IRS. For more information concerning these three reports, see FPSRP382 in the Loan Reports manual. |
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Year-end Loan Statement Report (Report 2)
The Year-end Loan Statement Report shows accounts with interest reported to the IRS, as well as how the statement was delivered to the borrower (paper, email, both). |
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Year-end Loan Statement Exception Report (Report 3)
Shows any accounts where 1098 mortgage interest was paid, but the system did not produce a statement for that account due to some exception or error. The report will show the reason for the exception, such as missing tax ID numbers (SSN) or special mail codes (such as Do Not Mail). |
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Brokers/Contractors Report
The Broker/Contractor Report (FPSRP116) displays broker and/or contractor information that was transferred from the Loan system to IRS GOLD for 1099-MISC reporting. Be sure that accurate name, address, and Social Security number information has been entered on the Loans > Payee Information screen in CIM GOLD, and that the Report to IRS checkbox field on that screen is checked.
Note: 1099-MISC forms must be printed by your company through IRS GOLD to send to brokers. They will be included in the IRS transmittal. (See the 1099-MISC Broker Fees above for broker information.) |
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Loan Assumption Report
The Loan Assumption Report (FPSRP129) identifies assumptions processed by your company on the Loans > Loan Assumption screen (which are rare). Information is pulled from that screen and displayed on this report. |
