03/18/2020: New Process for Interim Servicing Loan Customers Impacted by COVID-19

Information in this newsflash applies to Interim Servicing and Servicing Transferred loans.  


A new section – COVID-19 Coronavirus Impacts and Assistance – has been added to KnowledgeOwl.  The procedure below has been added to this new section, and procedures for Servicing Transferred and Retained Servicing loans are also located in this section.  


This pandemic situation is changing and evolving, so please continue watching for process updates and reviewing this section for up to date procedures and call handling instructions.



The process for handling inquiries from customers impacted by the COVID-19 Coronavirus Pandemic for Interim Serviced loans has changed.  


Please read the details below and become familiar with this new process. 



Fairway Interim Servicing Loans That Have Not Transferred to a New Servicer


 
If customers contact the Interim Call Center or Servicing 911 advising they have been impacted by the COVID-19 Coronavirus Pandemic and are experiencing a financial hardship, follow the steps below.


Express Empathy when speaking with these customers.  Examples include:  

  • I regret to hear you are experiencing this hardship - let me help you now.
  • Fairway is here to listen and to help, thank you for calling us.
  • I can sense this is frustrating for you, I will see what I can do to help right now.
  • I see how this can be difficult for you right now, and I will work with you today to see how we can help.

Note:  These are example phrases and are not required to be used verbatim.  Feel free to use similar language and phrases - that you would naturally say - to connect with customers and reassure them we are here to help and that we care.  

Procedure

Advise customers you will submit their account for a review of options available at this time.  

Their account will be reviewed, and they will receive a call back within one business day.  

Obtain the information requested below, and submit an email requesting the loan review and a call back to the customer.


Send an email to:  Sandi Whitcomb, Dewanna Richard and copy Jan Burger, DW Schabbing and Tia Farmer

  • Subject Line:  COVID Review - Loan Number <00000000000> 
  • Body of Email: 
    • Details of the hardship as described by the customer 
    • Two valid contact phone numbers

Document a Memo in FICS with details of the conversation with the customer, and reference the email request has been submitted.

If Fairway Loan Officers contact Interim Servicing or Servicing 911 on behalf of a customer impacted by the COVID-19 Coronavirus Pandemic and requesting assistance:

  • Obtain customer's name, loan number and contact information
  • Follow procedure documented above to send an Email
    • Include the Loan Officer's Name and attach their email to the email you are preparing
  • Ensure the Loan Officer receives a follow up email with the status of the return call
  • Advise Loan Officer to encourage customers to contact Fairway Servicing directly

This procedure and page will be updated as additional options become available and as processes and guidelines change.



See your Manager or Lead if you have any questions.