01/23/2020: Fairway Billing Statement Issues

The information in this newsflash applies to Interim Servicing and Servicing Transferred Loans.


There was a population of 569 loans with the February 1, 2020 payment due to Fairway that did not generate or mail monthly billing statements on January 17, 2020 as expected.  


For the 569 customers whose Fairway billing statements did not generate, a statement is being generated today (01/23/2020) for the February 2020 payment to be remitted to our office.  These statements will mail Friday January 24, 2020.


In addition, a group of 407 Servicing Transfer loans that received an accurate Notice of Servicing Transfer effective February 1, 2020, were also erroneously mailed a Fairway billing statement requesting the February 1, 2020 payment be remitted to our office.  In this scenario, the Fairway billing statement should not have been generated or mailed as the payment is due the new servicer. 


For the 407 customer who received this Fairway billing statement, an apology email is being sent today (01/23/2020).  This email advises customers to disregard the Fairway statement and to follow the instructions contained in their Notice of Servicing Transfer effective February 1, 2020 and to consult FairwayNEXT for confirmation of transfer information.


The verbiage contained in the email is shown below.


<Beginning of Email>


Statement Mailed in Error


Dear Customer,


Due to an isolated processing error, Fairway Independent Mortgage Corporation (Fairway) mailed a Billing Statement requesting you send your February 1, 2020 payment to our Fairway corporate office in Carrollton, TX.  Additionally, a Notice of Servicing Transfer was mailed advising you to make the February 1, 2020 payment to your new Servicer.  


We are sending this email to let you know the billing statement from Fairway should not have been generated and mailed to you.  Please follow the instructions you received with your Notice of Servicing Transfer letter in the green envelope.  Your February 1, 2020 payment is due to the new Servicer.  If you mailed your February 1, 2020 payment to Fairway, please be assured we will forward this payment to your new servicer as soon as it is received.


We sincerely apologize for any inconvenience or confusion this has caused.  If you have questions, please contact Fairway’s Customer Experience Team by calling toll-free 1-800-201-7544 from 8:30 a.m. – 5:00 p.m. Monday through Friday Central Time or email us at Servicing@fairwaymc.com.  


You may also confirm information regarding your payment and new servicer by visiting www.FairwayNEXT.com.


Thank you,


Fairway Independent Mortgage Corporation

Customer Experience Team


<End of Email>


Should customers inquire about the Fairway statement and or the email received, advise the following:

  • A Fairway billing statement was mailed to you in error after your Notice of Servicing Transfer was generated
  • Please disregard the Fairway statement and remit your February 2020 payment to  your new servicer as advised in your Notice of Servicing Transfer
  • Apologize for any inconvenience or frustration this caused

Please see your Manager or Lead if you have questions.