IRS Form 1098 Reporting for Flagstar Brokers and Correspondents
Flagstar Bank will be issuing 1098 statements to its borrowers over the next few weeks. However, your company may also be responsible for issuing its own 1098 statements, depending upon how the loan was closed. To clarify the reporting responsibilities of each party and ensure proper disclosure to borrowers, please follow the channel specific instructions listed in this memo.
Please see complete memo for full details.