Customers with second lien mortgages in the interim servicing portfolio now receive a monthly billing statement for payments due to Fairway.
These junior lien mortgages are with Fairway interim servicing for a brief period of time and then transfer to a new servicer – same process as with the interim serviced first lien mortgages. These customers also receive their Notice of Transfer letter in the bright Fairway green envelope.
Billing statements for these loans are in designed in the same format as statements for first lien mortgages and are viewable in FICS by clicking on Radstar.
Determine if a loan is a 2nd or 3rd lien in FICS by viewing:
General folder >> Loan Details, then
General Terms tab and locate the Lien Position field