January 18, 2022: Retained - When to Waive the $5.00 Convenience Fee

When to Waive the $5.00 Payment by Phone Convenience Fee

Situations when it is appropriate or expected to waive the convenience fee when processing a payment by phone for retained servicing customers include:

  • If taking a payment to enroll the customer in biweekly or monthly drafting
  • If taking a payment for customers with FHA and VA loan types
  • If customers advise they experienced technical issues while trying to pay online or on the IVR
  • State restrictions: Do not charge Fees: CA, CT, IA, MD, MN, MS, NJ, NC, PA, TN, WA
  • Do not charge fee on loans in default (defined as 61+ days due)
  • All other situations, consult with your Supervisor or Manager

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