Under State Law, Wisconsin customers may select for their mortgage servicer to disburse a check from their escrow account to pay property taxes that is made payable to both the customer and the tax collector.
- This check will be mailed to the customer
- The customer then remits this check to the Tax Collector for payment of property taxes
Wisconsin customers may also select for their mortgage servicer to disburse funds from their escrow account directly to their Tax Collector. This option is selected during the origination process of their loan.
MSP Screen: MAS1 USR1
MSP Field: WISCON TAX OPT
Wisconsin Tax Options:
Tax Option 1 - Tax disbursements are payable to both the customer and the tax office.
- The check amount will be the 2020 tax amount as the 2021 tax amount will not be available in time to meet the December 2021 deadline to send checks to customers
- Tax Option 1 customers must pay the difference between the check they receive and the 2021 tax amount billed
- If customers request Fairway to disburse the difference, they will be changed to Tax Option 2 for 2022
- If checks sent to customers exceed the amount due, the tax office will remit any refund directly to customers
- Option 1 is not eligible for FHA loans, RHS loans, WHEDA loans and some other bond program loans
Tax Option 2 - Tax payments will be disbursed from escrow by December 31, 2021 as funds are required to be disbursed on or prior to year-end with this option
Tax Option 3 - Pay by the time the bill is due - Tax will be paid by January 31, 2022 and the tax line reflects a January due date
Servicing will provide Wisconsin branches loan level lists of payments disbursed to customers who selected Tax Option 1 in early December 2021.
Wisconsin Taxes Escrow Department Point of Contact:
Email all inquiries relating to Wisconsin Taxes to: Wisconsintax@fairwaymc.com
- Option 1 requests to issue payment from escrow for any additional tax balance due
- Any other special handling requests relating to Wisconsin tax payments
- This is for internal use only by Fairway Servicing Employees, Loan Officers and Branch Employees – Do Not provide this email address to customers or external third parties
This information is viewable by accessing the Year End 2021 section in KnowledgeOwl.
Comprehensive Year-End Training will be conducted in early January, 2022.
Please contact your supervisor or manager if you have any questions.