Reference the attached HTML file to view a copy of the email sent to customers whose loans transferred to Flagstar Bank and attempted to process a payment on the My Fairway Servicing Mobile App between January 29 and February 1, 2021.
The original newsflash communication regarding this topic is shown below.
From: Servicing Training
Sent: Saturday, February 6, 2021 10:29 AM
Subject: NEWSFLASH: Flagstar Bank Transfer Loans - Issue with Payments Processed January 29 - February 1 on My Fairway Servicing Mobile App
Flagstar Bank Transfer Loans – Issue with Payments Processed 01/29 – 02/01 on My Fairway Servicing Mobile App
A population of customers whose loans transferred to Flagstar Bank on February 1, 2021 attempted to process a payment on the retained My Fairway Servicing mobile app from January 29th at 10:30 p.m. Central time through February 1st at 10:30 p.m. Central time.
While these customers received a confirmation number, and these confirmation numbers are documented on MSP, the payment transactions did not process. Funds for these transactions will not be deducted from customers’ checking or savings accounts, and these customers need to make this payment directly to Flagstar Bank.
Attached is a spreadsheet containing the impacted loan numbers, customers and payment transactions.
- Advise these payments did not process – even though a confirmation number was provided
- Assure these customers the funds for these payments will not be deducted from their bank account
- Inform these customers to make the payment directly to Flagstar Bank
- Remind these customers of the 60 day RESPA protection preventing assessment of late fees and preventing reporting of late payments to the credit bureaus
- Apologize for any inconvenience or frustration this has caused
Impacted customers will receive an email advising the payment they processed with Fairway will not post or be deducted from their bank account, and they need to make the payment to Flagstar Bank. The verbiage contained in the email sent to impacted customers will be provided in a separate newsflash as soon as it is available.