MBA and ABA Suggest Guidance for IRS on Reporting Interest for Mortgages that Received Modifications
March 9, 2017
After years of confusion among servicers and borrowers, the Internal Revenue Service is getting closer to issuing guidance about how servicers should report interest to the IRS on mortgages that receive significant loan modifications. The Mortgage Bankers Association and the American Bankers Association recently submitted a joint comment letter to the agency, which announced plans to issue guidance on the matter back in December 2015. The trade groups said...
Some SWFs in other countries have extensive ownership interests in major corporations and sweep much of their profits into state coffers.
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