Posted by TinaCA on 1/14/11 12:05pm
Msg #368647

W-9

Why does a lender require the borrowers to sign a w-9?

Reply by ReneeK_MI on 1/14/11 12:09pm
Msg #368648

Used in preparing 1098 - interest paid statments n/m

Reply by TinaCA on 1/14/11 12:32pm
Msg #368654

Re: Used in preparing 1098 - interest paid statments

Ty now for another question what does n/m mean?

Reply by jojo_MN on 1/14/11 12:38pm
Msg #368656

Re: Used in preparing 1098 - interest paid statments

If you put your reply in the subject line, with no message in the "message box", it just prints "N/M" after the reply.

Reply by jojo_MN on 1/14/11 12:39pm
Msg #368658

N/M means "no message". n/m

Reply by Yoli/CA on 1/14/11 12:53pm
Msg #368666

Actually, "" = no more. n/m

Reply by Yoli/CA on 1/14/11 12:54pm
Msg #368668

""" = no more.

Sorry. Didn't fully appear first time.

Reply by Yoli/CA on 1/14/11 12:54pm
Msg #368669

Re: """ = no more.

"n/m" still won't appear on subject line. Is there a reason for that?

Reply by PAW on 1/14/11 9:26pm
Msg #368741

Re: """ = no more.

Yes. "n/m" is reserved for use by the system, as is the case when no message is included in the posting. What you may want to do is use something like "n / m" with embedded blanks or "n slash m".

Reply by JanetK_CA on 1/17/11 4:35pm
Msg #368969

Yes! Why it's done - and another slight pet peeve...

I'm sure PAW knows this, so this is just for those who don't: the reason the system is set up to automatically add those two letters in the Subject line of a message is to save us a click. In other words, we can read the subject line and know that there's nothing in the body of that post to read, so we can skip it and just go on to the next post. Therefore, if someone puts "N/M" or ".", or anything else that's just a place holder in the "Message" section, it defeats the whole purpose of having those two letters added to the Subject line. So we click on that post only to find that there's nothing there to read.

I think it's a great little time saver when used properly.

Reply by sueharke on 1/14/11 10:56pm
Msg #368750

It is important to get information from the IRS, especially if the signer has a business.

Reply by JulieD/KS on 1/15/11 9:51am
Msg #368793

Lenders need your correct SSN so that when they issue a 1098 reporting the mortgage interest you've paid, it will be reported correctly. You get a copy of the 1098 and so does the IRS. The IRS can then match up the 1098-reported amount with what you report on your tax return. The amount escrow paid out for real estate taxes and insurance on your account should also be listed. It's not the amount you paid in to escrow that goes on your tax return; it's the amount paid to the taxing entity.