My mortgage broker sold the loan and I received 1098's from both him and the new loan provider

[ricdunn21]

One payment went through the broker before the new financial institution had the loan. Both 1098's show the same value for mortgage insurance premium. Do I report it in both 1098's or just choose one?

[MinhT · Accepted solution]

If you actually paid the mortgage insurance premium only once, you can only claim it once. You can just report on one of the form 1098.

[Chessyb]

I have a follow up on this exact question.  I assumed that since the mortgage insurance payment was the same on both and I only paid it once, I only reported the amount once.  However, I noted that the broker reported a small amount of mortgage interest as only payment went to them, and the new company reported a lot more as they received several payments.  My question is....does the mortgage interest reported by the new company INCLUDE what was paid to the broker?  Do I report just the larger amount from the new company and disregard the one from the broker?  

[KrisD15]

Not if they each issued a 1098.

It would be best to call them and get clarification, but the 1098 should report the interest paid to that lender (or Broker) only. 

If you received two, you should enter and claim both unless you know there was a reporting mistake made. 

[Chessyb]

Thanks for the reply!!