Definition: The mortgage year-end statement is a type of financial report that provides an overview of a borrower's monthly mortgage payments during the preceding year, including all necessary charges such as fees, interest rates, and taxes. The mortgage year-end statement typically includes the following information: - Monthly principal and interest payments made on each loan, including any prepayments or adjustments - Interest expense for each month, including both fixed-rate and variable-rate mortgages - Any additional charges, such as late fees or penalties for non-payment of principal or interest - Total amount borrowed during the year, including any outstanding balances or modifications to the mortgage agreement The term "mortgage year end statement" refers to this type of financial report.
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