Disasters - General Overview and Information

Information on this page applies to Interim Servicing and Servicing 911.

A disaster is defined as an incident which caused significant danger and damage or suffering; a ruin or catastrophe.  

Why are we concerned with disasters? 

  • The safety and well-being of our customers is extremely important to Fairway
  • We also want to be on the front-line to guide customers to solutions regarding: 
  • Financial Impact post-disaster 
  • Damage to their homes (Loss Draft Claims Check Handling) 
  • Assisting customers with new Servicer information during transfer period

Proactive Disaster Procedures

Support departments within Servicing create internal reports and receives reports from our insurance vendor regarding predicted disasters.

Predicted disasters include: 

  • hurricanes
  • winter storms
  • wildfires (post-initial fire starting, tracking the spread of the fire) 

Once reporting of potential disasters is received, we determine if we have properties or loans in the specified zip codes and within a 10-mile radius of the potential disaster impacted area:  

  • Communications to the Customer Experience centers (Interim Call Center, Servicing911) including impacted areas and property volume counts
  • Communications to Fairway All to create awareness of disasters and potential impacts

Click here for details specific to Interim Servicing and Transferred Servicing loans with Loss Draft Claim Checks and more disaster-related information.