Articles
Recast Guidelines - Non-Retained Servicing
Last Updated 02/04/2022 Non-Retained Servicers Permitting Recasts Guidelines Servicer: JP Morgan Chase Bank (Serviced by JPMC) Bayview Two Harbors/ Flagstar Bank Loancare Lakeview/ M&T Bank Mr. Cooper Select...
Recast Guidelines - Retained Servicing
Customers whose loans are retained serviced with our subservicer, ServiceMac, branded as Fairway may request a recast on their loan based on meeting the requirements listed below. Eligible customers must submit the form to begin the process. ...
Recast Guidelines - Jumbo Loans
DISCLAIMER: This chart does not include all correspondent/jumbo programs. These are some of our higher volume partners. Fairway does not own or influence this information and cannot confirm accuracy of recast options and requi...
Investor/Loan Types Not Eligible to Recast
Investor/Loan Types Not Eligible to Recast Recasts cannot be performed on FHA, RHS, or VA loan types - only Conventional loan types are eligible. JP Morgan Mortgage Acquisition Corp loans subserviced by Shellpoint are not ...
What is a Recast?
A recast is the process of submitting and applying a large principal payment and using the new reduced loan balance to re-amortize the existing monthly mortgage payments over the remaining term of the loan. This process do...
Recast Eligible Loan Types and General Guidelines
Eligible loan types (if Servicer permits) • Conventional Fannie Mae • Conventional Freddie Mac Non-eligible loan types FHA RHS USDA VA General Recast Guidelines Written requ...