Personal_Home Banking Borrowing Investing Retirement Managing Wealth Tools and Planning En Espanol  
Switch To Suntrust Home Center Education Investing Retirement Additional Tools and Resources Insuring  
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 reports under only 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.
Back to Top

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. At your request, we will send a copy, for a fee.
Back to Top

When is my annual statement mailed?

SunTrust Mortgage is required to mail annual loan statements by January 31. We usually mail statements during the second and third weeks of January,,with the regular monthly statement.
Back to Top

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 2005 payment prior to January 1, it may have been posted to your account before December 31, 2004, which would result in 13 payments applied in 2004.
Homeowners with a Graduated Payment Mortgage (GPM) loan will have increasing interest in the first few years in accordance with the GPM program.
Back to Top

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 for paying your tax bill before the delinquent date, whenever it is.
Back to Top

Why does my total tax figure not equal the total amount I paid?

You might have received a refund during the year. You also might 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.
Back to Top

I assumed my loan during the year. What portion of mortgage interest can I claim?

SunTrust Mortgage reports interest based on the date of the assumption of the loan by the new borrower.
Back to Top

Why are 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 that 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.
Back to Top

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 might have experienced negative amortization during the year. SunTrust Mortgage can provide you with a copy of your transaction history, which can confirm whether this occurred.
Back to Top

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 in 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.
Back to Top

Mortgage products are provided by SunTrust Mortgage, Inc. View our licensing agreement.

Business Banking |  Corporate & Institutional |  News Releases |  Investor Relations |  Careers  |  En Español
Home |  About SunTrust |  Contact Us |  Customer Service |  ATM/Branch Locator |  Site Map |  Online Fraud
Privacy, Security & Fraud  |  Terms & Conditions |  ©2014 SunTrust Banks, Inc. SunTrust is a federally registered service mark of SunTrust Banks, Inc. SunTrust Bank Equal Housing Lender
Securities and Insurance Products and Services:
Are Not FDIC or any other Government Agency Insured Are Not Bank Guaranteed May Lose Value
Services provided by the following affiliates of SunTrust Banks, Inc.: Banking and trust products (including checking accounts) and services are provided by SunTrust Bank, Member FDIC. Securities, insurance (including annuities and certain life insurance products) and other investment services (including Brokerage accounts) are offered by SunTrust Investment Services, Inc., an SEC registered investment adviser and broker-dealer and a member of the FINRA and SIPC. Other insurance products and services offered by SunTrust Insurance Services, Inc., a licensed insurance agency.