02/01/2021: Payment Returned Email or Letter Sent to Customers Transferred to Flagstar Bank who Paid Using a Bill Pay Service

Customers whose loans were part of the Fairway bulk sale transferred to Flagstar Bank effective February 1, 2021 and remitted their monthly payment to Fairway/ServiceMac using online banking or a third party bill-pay service will receive an email or letter advising their payment has been returned to their financial institution or third party bill-pay service provider (a letter will be sent if an email address is not available).  

This notice is specifically generating each day after the prior MSP processing cycle when a customer’s bill-pay/online banking payment has been submitted to Fairway/ServiceMac (post-servicing transfer) and has been rejected back to the customer’s financial institution or third party bill-pay service (whichever is applicable).

Instructions to update the new servicer information with their financial institution or third party bill-pay service were previously provided in January within the Fairway notice of transfer letter (goodbye letter), the welcome letter from Flagstar Bank and the Fairway transfer email sent to the majority of bulk sale transfer customers.

In order for timely processing of their mortgage payment, it is critical that customers transferred to Flagstar Bank immediately take action to update the following new servicer information with their financial institution (for on-line banking) or their third party bill-pay service as follows:  

Payment details must be updated as follows:

Pay to the order of: Flagstar Bank
 Reference: Flagstar loan #__________
 Mail to/reference the: Payment Processing Department
 Flagstar Bank, P.O. Box 660263
 Dallas, TX 75266-0263

A copy of the verbiage in the email or letter sent to these customers is shown below (transferred customers have been referred to the Customer Service toll-free number of their new servicer, Flagstar Bank):

Fairway Loan #     (January 31st and prior)

Flagstar Bank Loan #       (February 1st and after) 
Effective February 1, 2021, the servicing of your mortgage loan transferred from Fairway Independent Mortgage Corporation to Flagstar Bank. Both Fairway and Flagstar Bank mailed transfer notices in January to inform you of this February 1st transfer. These notices provided the contact and payment information for your new servicer, Flagstar Bank.

According to our records, you attempted to make your payment on the MyFairwayServicing mobile application between January 29, 2021 and February 1, 2021. Although you received a confirmation of your submitted payment, this payment did not successfully process. These funds will not be drafted from your bank account due to this attempted MyFairwayServicing mobile application payment.

Please make your payment directly to your new servicer, Flagstar Bank. To register with Flagstar Bank and make your payment online, please visit flagstar.com/myloans.

 We understand that transfers of servicing may be confusing. Please be aware you are protected under federal requirements for 60 days following the February 1st servicing transfer date which provides you time to make the necessary corrections to ensure your payment is made to your new servicer, Flagstar Bank. This means that during the months of February and March, you will not be assessed late fees and you will not be negatively reported to credit agencies.

We sincerely apologize for any confusion or inconvenience this may have caused.

If you have any questions concerning this information:

Please contact Flagstar Bank Customer Service Department: 
  • Toll-free at (800) 968-7700
  • Mon - Fri 7:30 am - 8:00 pm ET, Sat 7:30 am - 4:00 pm ET
  • Or visit us online at flagstar.com/myloans
  • Mail payments to: Flagstar Bank
    Payment Processing Department
     Reference: Flagstar loan #   
     Flagstar Bank, P.O. Box 660263
     Dallas, TX 75266-0263
Thank you,

 Customer Experience
 Fairway Independent Mortgage Corporation