01/20/2020: Loss Draft Claim Checks for Interim Serviced and Servicing Transferred Loans

Please click the KnowledgeOwl links below and become familiar with this updated procedure.  There are significant changes from the previously published process.  

The Servicing911 KnowledgeOwl and the Fairway Servicing KnowledgeOwl viewed by the LO’s and Branch Staff have both been updated.  Content is the same in each KnowledgeOwl, and it is important to know where LO’s and Branch Staff view the information.

Click here to view the Servicing 911 and Interim Call Center content.

Click here to view the Fairway Servicing KnowledgeOwl content and 

search “Loss Draft” if you are not redirected to the Loss Draft page.

Changes include:

  • Fairway does not have agreements with all Servicers to endorse Loss Draft Checks made payable to Fairway as previously published
  • Customers whose loans have transferred can send their check to Fairway Corporate at Marsh Lane for endorsement, and Fairway will forward the check to the new Servicer
  • Retained Servicing Loans process has been updated in this documentation

Make sure to thoroughly review and understand this new process, and see your manager or lead if you have any questions.