Those that follow my post know that I refinanced last year with Taylor Bean and Whitaker (TBW) on a VA ARM. It was shortly after that TBW was closed by HUD for problems with their lending policies. My loan was taken over by Bank of America and I had some difficulty finding out what to do with my payment. Now it is tax time and I, like many others, am wondering where my 1098 showing interest paid is from TBW.
So, I did some research, and this is what I found on the TBW website (yes, it still exists):
PLEASE NOTE: IF YOUR LOAN WAS TRANSFERRED TO ONE OF THE FOLLOWING SERVICERS IN 2009, ONLY ONE FORM WILL BE GENERATED: CENLAR, SAXON, OCWEN, BANK OF AMERICA, ROUNDPOINT OR DOVENMUEHLE or 21st CENTURY. . THE FORM, GENERATED BY YOUR NEW SERVICER, WILL COMBINE BOTH TBW AND THE NEW SERVICER’S INFORMATION BUT WILL NOT BE AVAILABLE ONLINE AT TBW’S WEBSITE. CONSEQUENTLY, IF YOUR LOAN WAS NOT TRANSFERRED TO ONE OF THE ABOVE REFERENCED SERVICERS, YOU WILL RECEIVE A YEAR END 1098 FORM FROM TBW AND THE NEW SERVICER, IF APPLICABLE.
So, the good news is that I have received the 1099 from Bank of America and “hopefully” it is correct. Now, all I have to do is fill out the tax returns and see what the latest tax code changes have done to me. I hope this information will help others that had TBW loans and were wondering what the status of their 1099 was. If this doesn’t satisfy your needs, try the TBW Website.
If you have questions about your current loan or are looking to refinance, contact me (Fred Chamberlin, the Eugene Loan Guy). I would be happy to help you mortgage needs. If you have questions about mortgage loans please contact me at 541-342-7576/541-221-3455 cell or by e-mail. I am a Senior Mortgage Advisor at Alpine Mortgage Planning, 1200 Executive Pkwy., Ste. 100, Eugene OR 97401. I am here to help you with your mortgage needs.