12/20/19 - New Verbatim Script: Payment Processing Disclosure for Fairway Interim Servicing Loans

Effective Friday, December 20, 2019 a new required verbatim script must be used when processing a one-time payment by phone with a customer or third party for Fairway Interim Servicing Loans.  This script is not to be used for Retained Loans with ServiceMac.  

This new script meets regulatory guidelines regarding information that must be provided to customers who request a one-time payment by phone.  To keep Fairway in compliance, it is imperative this script is read verbatim and in the order shown below for every call where a one-time payment by phone is processed.

Thank you for authorizing a payment with me today, today’s date.  

You, [Customer’s name] have authorized a one-time payment in the 

amount of [total payment amount in dollars and centsto be drafted 

on [date draft is scheduledfrom the account ending in [last four digits

of account number being draftedfrom [name of bank].  

This payment will be applied to the Fairway account number [Fairway loan number]

in the amount and on the date provided.  Funds for this payment will be deducted 

from your checking or savings account within 1 to 3 business days.  

[If before 3:00 pm] - You have until 3:00pm Central Time today to call us and revoke your authorization of this payment.  

[If after 3:00 pm] - You have until 3:00pm Central Time [next business day] to call us and revoke your authorization of this payment.  

If you have any questions, inquiries, or would like to revoke your authorization for this payment, please contact by calling 800-201-7544.

Do you confirm this information is correct?

[Obtain customer’s confirmation and proceed with processing the payment]

A printed copy of this script will be provided for reference today.  

This information is also updated in the Servicing911 KnowledgeOwl.  

Click here to view this script and a One Time Payment Job Aid.  

Again, this script is for payments for Fairway Interim Servicing loans only.  

Fairway Retained Servicing loans with ServiceMac use a different script that is contained within the Lift/Ventanex portal.

See your Manager or Lead if you have any questions.