August 27, 2021: Interim Servicing Short Year History Statements Mailed with Incorrect Cover Letter

Short Year History Statements mailed during August 2021 to 31,735 transferred servicing customers erroneously included a cover letter, which typically mails with Fairway monthly billing statements, encouraging customers to make their payment electronically to Fairway due to mail delays during the pandemic.  This cover letter should not have been mailed with the Short Year Statements.  The purpose of the short year statement is to provide details on any escrow activity which occurred during the brief interim servicing at Fairway.

The verbiage contained in the cover letter is shown below:

This will cause confusion for these customers whose loans have transferred to their new Servicer.   Customers should remit payments to their new servicer as of their transfer effective date and disregard this cover letter.

If customers inquire about the letter:

  • Advise the cover letter encouraging payments to be made electronically to Fairway was mailed in error
  • Assure customers this does not change information regarding their loan transfer to the new Servicer
  • Confirm the intent of the mailing was to provide the valid Short Year Statement which correctly details escrow activity during interim servicing at Fairway
  • Apologize for any inconvenience or confusion this may have caused