March 4, 2021: Retained Loans: MyFairwayServicing.com Displaying Debt Collection Notification for Some Customers

Retained servicing customers whose loans have a zero dollar principal balance as a result of being paid in full or being included in the recent bulk sale transfer to Flagstar Bank are receiving a debt collection notification after successfully logging in to the Servicing Digital platform – MyFairwayServicing.


This mini-miranda verbiage is presented to these customers as the due date on their loan is not advancing, and the system incorrectly “thinks” the account is past due – even though they do not owe funds to Fairway (ServiceMac).


Advise customers with a $0.00 principal balance receiving this message of the following information:

  • Confirm with the customer their loan has a zero dollar principal balance with Fairway (ServiceMac) as it is paid in full 

Or

  • Confirm with the customer their loan has a zero dollar principal balance with Fairway (ServiceMac) as their mortgage servicing recently transferred to Flagstar Bank
  • Assure customers the contents of the message does not apply to their loan as they do not owe funds to Fairway (ServiceMac)
  • Apologize for any frustration or confusion this matter caused


Note:  This message continues to correctly display for customers whose loans do not have a zero dollar principal balance and are in a delinquent status with their monthly payment(s) owed to Fairway (ServiceMac).


Please contact your supervisor or manager if you have any questions.